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HomeNewsNatural gas rates set to rise: FortisBC

Natural gas rates set to rise: FortisBC

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Your monthly gas bill is about to go up.

FortisBC has received regulatory approval from the B.C. Utilities Commission to increase the cost of gas rates for all of its customers starting on Oct. 1st. 

For residential customers, that means about $8, or nine percent, tacked onto their monthly bills. This is based on an average household consumption of around eight GJs per month.

Supplied by FortisBC

The cost of gas is one component of the overall FortisBC gas bill and the next scheduled review is in December, 2021.

“We acquire natural gas at market-based prices and factors like supply and demand and economic conditions affect the price,” said Joe Mazza, vice-president, energy supply and resource development at FortisBC. 

“We understand that energy costs are an important consideration in household budgets and we are always here to help our customers manage their bills and energy use.”

As of Oct. 1st for Vancouver Island and the Mainland (including North and South Interior), Whistler, and Revelstoke

The cost of gas rate will change by $1.00 per gigajoule (GJ) from $2.844 per GJ to $3.844 per GJ. 

 

FortisBC says that, “as an energy solutions provider regulated by the BCUC, (it) reviews the costs of gas rates with the BCUC quarterly to make sure the rates passed on to customers are fair.” 

“FortisBC acquires natural gas at market-based prices and factors like supply and demand and economic conditions affect the price of natural gas in North America,” it added in a release.  “With market prices increasing, FortisBC rates are rising to reflect the higher cost of acquiring natural gas for customers.”

FortisBC says it “does not mark up the cost of gas; the cost that FortisBC pays is what is passed on to customers.”

For more about rates and the components that make up a FortisBC gas bill, click here.

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