Alaska utilities are facing sharp price hikes when they begin importing liquefied natural gas to replace dwindling supplies of locally produced gas. The first LNG tankers are expected to arrive for a few years, but increases are already occurring. Hilcorp, the leading local gas producer in urban Alaska, is increasing its price by 14% to $9.00 per thousand cubic feet, from $7.89, and more increases scheduled over the next two years will bring the price to $11.75 by 2028, a 49% increase from the rate in early 2026. Additional price increases are expected when Enstar, and Anchorage and the Mat-Su’s electric utilities, begin replacing their locally supplied fuel with imported LNG. In Fairbanks, the local electric utility, has no natural gas plants of its own and its lower-priced power sources have dried up, leading to a 50% increase in residential prices. Enstar customers could pay $12 a month more if the company plans to build a new storage reservoir.