TORONTO, June 25 /CNW/ - Today the Ontario Energy Board approved an
increase to the natural gas supply rates Natural Resource Gas Limited (NRG)
charges its customers effective July 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 increase of approximately $196 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 July
1st to September 30th is 45.9925 cents/ m(3).
The charges for consumers purchasing their natural gas from NRG (system
gas customers) reflect an increase 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 commodity from a
natural gas marketer (direct purchase customers) will see no changes to their
gas bills as a result of this rate change. This does not include the terms of
any direct purchase contracts that the consumer has entered into with a
natural gas marketer.
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)