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Hibbing Public Utilities says shift from gas to biomass and coal saved about $1.5 million during polar-vortex event
Summary
HPU staff told commissioners that a late-January polar-vortex event and a regional gas-pipeline outage spiked market gas and power prices; the utility said it switched the plant off natural gas, burned biomass and coal, and avoided roughly $1.5 million in gas costs while keeping January gas costs near budget.
Hibbing Public Utilities told its commission on Feb. 17 that a late-January polar-vortex event and a regional pipeline rupture sharply reduced gas supplies and pushed market prices for gas and wholesale power to historic levels.
"Starting right around the 23rd, you can see that huge spike up to $72 a dekatherm," Mr. Peterson said during the energy-market update, adding that wholesale power concurrently rose to roughly $800 per…
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