OEB approves rate changes for Enbridge Gas Distribution Inc.

TORONTO, June 22 /CNW/ - Today the Ontario Energy Board approved changes to the natural gas prices Enbridge Gas Distribution Inc. (Enbridge) charges its customers effective July 1, 2011.

The rate changes reflect higher natural gas prices in North America. The natural gas price is based on a forecast of market prices over the next 12 months. The forecast price is reviewed every three months and adjusted accordingly. If the previous forecast price was too high, the difference is refunded to customers. If the previous forecast was too low, the difference is collected from customers. This ensures customers pay for the actual cost of gas. This adjustment is referred to as the gas supply cost adjustment.

The effective price is a combination of the forecast natural gas price and the gas supply cost adjustment. From July 1 to September 30, 2011, consumers will pay 14.9268cents/m3 for the natural gas they use. When combined with the gas supply cost adjustment, consumers will pay an effective price of 13.0806cents/m(3).

    <<
    ----------------------------------------------------------------
    Natural Gas Price        Gas Supply Cost        Effective Price
       cents/m(3)               Adjustment             cents/m(3)
                                cents/m(3)
    ----------------------------------------------------------------
         14.9268                  -1.8462                13.0806
    ----------------------------------------------------------------
    >>

Residential consumers who buy natural gas directly from Enbridge and use 3,064 cubic meters (m(3)) a year will see an increase of $32 per year on their overall bills.

For more detailed information about this announcement visit our website at http://www.ontarioenergyboard.ca/OEB/Consumers/Natural+Gas/Natural+Gas+Rates.

The Ontario Energy Board regulates the province's electricity and natural gas sectors in the public interest. It envisions a viable and efficient energy sector with informed consumers and works toward this vision through regulation that is effective, fair and transparent. For more information on the Board, please visit our website at www.ontarioenergyboard.ca.

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SOURCE Ontario Energy Board

For further information: Media Inquiries, Vanda Wall, Ontario Energy Board, 416-544-5171; Public Inquiries, 416-314-2455 Or 1-877-632-2727


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