Customers have the opportunity to choose between two commodity price options: monthly Index Price Option (IPO) or a term of one year Fixed Price Option (FPO).
If you have any questions, please call us at 1-877-226-7427.
The IPO for July 2017 is $0.3789
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, 2016 the FPO rate for one year will be $ 0.6740
Customers can select the FPO to “lock-in” the commodity rate component during August for a one year term. Customers who select the FPO will be charged the same monthly commodity price for gas used until the one year term expires.
The 2016 final FPO price will be calculated based on the NYMEX Settlement Price on August 29, 2016. Those who have elected to lock-in will also be notified by mail of the final FPO price.
The 2017 FPO Open Enrollment Period will begin on August 1 and close at noon on August 28.
Starting on August 1, 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 this years FPO.
2017 UPDATE: MNG’s Tariff no longer provides a three-day grace period for residential customers to select the FPO after September 1, and all new customers after the FPO enrollment period will not have the option of selecting the FPO pricing. All FPO selections must happen within the enrollment period.
Please click this link for historical comparison regarding your price options: 2016 Pricing Options – Which one is right for you?
FPO Daily Estimated Rates as traded at NYMEX
The FPO daily estimated price provided below will not be your Fixed Price rate.