TORONTO, Dec. 22 /CNW/ - Today the Ontario Energy Board approved a quarterly adjustment to the natural gas commodity rates Natural Resource Gas Limited (NRG) charges its customers effective January 1, 2010.
The adjustment reflects an increase in NRG's 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 12-month period.
The approved natural gas commodity price consumers will pay is 29.6411 cents/m3 for the period January 1st to March 31, 2010.
Consumers' bills will change depending on the amount of natural gas used, and type of consumer. The changes will result in an annual increase of approximately $48 for residential consumers using 2,009 cubic meters (m(3)) a year who purchase their natural gas directly from NRG (system gas customers).
The Board will continue to review the natural gas commodity rates every 3 months and adjust rates if necessary.
These rate changes have no impact for consumers who have a contract 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 and works toward this vision through regulation that is 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.
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SOURCE Ontario Energy Board
For further information: For further information: Media Inquiries, Paul Crawford, Ontario Energy Board, (416) 544-5171; Public Inquiries, (416) 314-2455 Or 1-877-632-2727