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Independent Fiscal Office Releases Outlook on 2020 Natural Gas Impact Fee Revenue

Friday June 26th, 2020

The Independent Fiscal Office (IFO) has released an Impact Fee Update and Outlook for the annual impact fee on unconventional natural gas wells. It examined the 2019 distribution, which will be sent to municipalities that have natural gas wells or are in counties with natural gas wells within the next few days. It determined that the primary drivers for the 2019 distribution level is a lower gas price and more new wells drilled. Click here to view the report.  

To estimate the 2020 distribution, which will be made in July 2021, the IFO looked at the two major factors that will affect the amount collected: the price of new gas and number of new wells. In its current fee scenario, which would require natural gas prices to be similar to those of 2019, it estimates that $199.9 million would be collected, just $0.4 million less than for 2019. However, the more likely scenario is that the price of natural gas remains very low, which leads to a lower fee schedule and a collection decrease of $53.4 million, or about 27 percent, from the 2019 distribution. Both models are projections.