In c8794 transmitted at 12:29e today, an error occurred in the first
paragraph. The supply rates should have read: "decrease" instead of
"increase." Corrected copy follows:
OEB Approves Rate Changes for Natural Resource Gas Ltd.
TORONTO, Sept. 26 /CNW/ - Today the Ontario Energy Board approved a
decrease to the natural gas supply rates Natural Resource Gas Limited (NRG)
charges its customers effective October 1, 2008.
Consumers' bills will change depending on the amount of natural gas used,
and type of consumer. Residential consumers who purchase their natural gas
from their local utility (system gas customers) using 2,009 cubic meters
(m(3)) a year will see an annual decrease of approximately $142 on their bill.
The Board will continue to review the natural gas commodity rates for system
gas customers every 3 months and make an adjustment to rates, if necessary.
The natural gas commodity price consumers will pay for the period October
1st to December 31st is 38.9444 cents/ m(3).
The charges for consumers purchasing their natural gas from NRG (system
gas customers) reflect a decrease in the forecast average price of natural gas
over the next 12 months. Natural gas utilities forecast the price of natural
gas quarterly to determine what they expect to pay for the natural gas they
supply to their customers over a twelve-month period. Natural gas utilities do
not make a profit on the sale of natural gas. It is sold to consumers with no
mark-up. Supply disruptions caused by unforeseen events, the price of oil on
the world market, and severe or abnormal weather can impact the market price
of natural gas.
Residential consumers purchasing their natural gas from a natural gas
marketer (direct purchase customers) will see no changes to their gas bills as
a result of this rate change.
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 served by responsive regulatory processes that
are effective, fair and transparent.
For more information on the Board, please visit our web site at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.
For further information:
For further information: Vanda Wall, Ontario Energy Board, (416)