Huge winter storm gas bills push cities to the brink

The tiny city of Denison, Kan., came to the brink of insolvency so fast last month that its leaders hadn’t figured out how to begin the bankruptcy process. “We don’t even know how to go under,” said Vickie Wold, the city council president. “How the city fails, what happens here—we’re just hoping and praying.” Denison has fewer than 200 residents, and in a typical February, the city pays about $4,000 to provide them with natural gas to heat their homes. Last month, the bill came to $242,498. “We can’t write that check,” Wold said. “There’s no way we can pay that, and we can’t pass it on to thes…

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HEDGE accordingly