Customers have the opportunity to choose between two commodity price options: monthly Index Price Option (IPO) or a term of one or two-year Fixed Price Option (FPO).
Consistent with the market-based concept of the IPO, MNG may reduce the amount of fixed price gas it purchases in the future, which in turn may increase the volatility of monthly gas prices paid by IPO customers. It is not possible to predict the actual impact of this or whether this will result in rates higher or lower than if MNG locked in prices at the same level as in previous years for its forecast IPO throughput.
If you have any questions, please call us at 1-877-226-7427.
The IPO for October 2015 is $0.3459
The IPO commodity charge will change each month, either up or down, and is calculated based on the New York Mercantile Exchange (NYMEX) closing settlement prices. Essentially, the IPO allows you float with the market price for gas each month.
Effective September 1, 2015 the FPO rate for one year will be $ 0.8219
The 2014 final FPO price was calculated based on the NYMEX Settlement Price on August 27, 2014. Those who have elected to lock-in will also be notified by mail of the final FPO price.
Customers can select the FPO to “lock-in” the commodity rate component during August for a one or two-year term. Customers who select the FPO will be charged the same monthly commodity price for gas used until the one or two-year term expires.
The 2015 FPO Open Enrollment Period is now closed.
Starting Monday, August 3, we will provide the FPO estimated rate every weekday in the table below. The estimates are based on the previous business day’s Settlement Prices as traded at the New York Mercantile Exchange (NYMEX). The estimates are made available to help you make the decision whether to lock in for an FPO term or to float with the market price, Index Price Option (IPO). If you are interested in the IPO, you do not need to do anything. Your account will remain on the IPO. If you are currently on the FPO, your account will revert to IPO automatically unless you contact us to enroll in the FPO again.
The FPO daily estimated price provided will not be your Fixed Price rate.
The final Fixed Price rate will be set on August 28th.
Please click this link for further explanation regarding your price options: 2015 Pricing Option & Historical Pricing Comparison
FPO Daily Estimated Rates as traded at NYMEX
|Date||12 Month||24 Month|
|8/3/15||$ 0.8304||$ 0.8432|
|8/4/15||$ 0.8272||$ 0.8389|
|8/5/15||$ 0.8310||$ 0.8406|
|8/6/15||$ 0.8338||$ 0.8441|
|8/7/15||$ 0.8349||$ 0.8453|
|8/10/15||$ 0.8348||$ 0.8450|
|8/11/15||$ 0.8391||$ 0.8478|
|8/12/15||$ 0.8400||$ 0.8487|
|8/13/15||$ 0.8461||$ 0.8532|
|8/14/15||$ 0.8361||$ 0.8460|
|8/17/15||$ 0.8374||$ 0.8472|
|8/18/15||$ 0.8317||$ 0.8431|
|8/19/15||$ 0.8283||$ 0.8402|
|8/20/15||$ 0.8708||$ 0.8824|
|8/21/15||$ 0.8743||$ 0.8846|
|8/24/15||$ 0.8664||$ 0.8783|
|8/25/15||$ 0.8619||$ 0.8738|
|8/26/15||$ 0.8639||$ 0.8740|