September 29, 2016 · 0 Comments
Enbridge Gas Distribution Inc. (Enbridge) has received approval from the Ontario Energy Board (OEB) for new rates, effective October 1.
Enbridge says typical residential customers who buy their gas supply from the firm will see a total bill increase of about three per cent, or $25 a year.
As a result, their total bill will be about $823 a year.
The increase is a result of higher forecasted natural gas commodity prices in North America. However, this increase is partially offset by a ‘Cost Adjustment’ refund, which reflects the difference between forecast costs and actual costs from the past 12 months.
The OEB also previously approved a Rate Adjustment charge for the difference between the amount customers paid for volumes consumed from January 1, 2015 to December 31, 2015 and the actual costs incurred. For typical residential customers, this will result in a total charge of about $21, which will be billed in two installments of about $10.50 on their October and November bills.
“Natural gas continues to provide great value to our customers, with the typical customer’s total annual bill now $390 less than it was 10 years ago,” said Jamie LeBlanc, Director of Energy Supply and Policy at Enbridge.
“Natural gas remains the most economical choice for home and water heating in Ontario,” he added. “Over the past five years, natural gas has been on average over 65 per cent less expensive than electricity and oil.”