CHATHAM, ON, Sept. 23, 2016 /CNW/ - Union Gas has received approval from the Ontario Energy Board (OEB) to adjust the rates its customers will pay for natural gas effective Oct. 1, 2016.
Residential customers in northern and eastern Ontario who purchase natural gas from Union Gas will see an annual net increase of about $40 which represents an increase of about 4.5 percent of their natural gas bill. Residential customers in southern Ontario who purchase natural gas from Union Gas will see an annual net increase of about $24 which represents an increase of 3.7 per cent of their natural gas bill.
The approved rate change largely reflects fluctuations in the market prices Union Gas expects to pay for natural gas supplies for the next year. The difference between the forecast for natural gas market prices and transportation services and the actual costs from prior periods varies by location. Adjustments are made quarterly (Jan. 1, April 1, July 1, Oct. 1), to either collect or refund the difference so that customers pay the actual cost for these items.
"Customers who heat their home and water with natural gas save $1,600 to $2,000 every year for the average home compared to using electricity, oil or propane," said Mark Isherwood, vice-president, sales, marketing and customer care, Union Gas "Choosing affordable and reliable natural gas makes good sense."
The OEB reviews and approves all delivery costs and gas rates before they can take effect. Union Gas does not profit on the price of natural gas or natural gas transportation. These costs are passed through to customers without any mark-up.
For more information on natural gas rates, watch the following videos.
Union Gas customers can realize even greater savings by improving the energy efficiency of their homes. For energy-saving advice, rebates and promotions visit uniongas.com/residential/save-money-energy.
For example, in support of Ontario's energy conservation efforts, Union Gas' Home Reno Rebate offers qualified residential customers in central and southwestern Ontario up to $5,000 in rebates for energy-efficiency assessments and renovations that can significantly lower their energy costs.
Eligible Union Gas customers having trouble paying their natural gas bill may qualify for emergency financial assistance toward past-due bills. Assistance is available year-round as funding allows. Learn more about the Energy Assistance Program (EAP) at uniongas.com/energy-assistance-program.
About Union Gas
Union Gas Limited is a major Canadian natural gas storage, transmission and distribution company based in Ontario with 100 years of experience and service to customers. The distribution business serves about 1.4 million residential, commercial and industrial customers in more than 400 communities across northern, southwestern and eastern Ontario. Union Gas, named one of Canada's Top 100 Employers from 2011- 2016, is a Spectra Energy (NYSE: SE) company with assets of $7 billion and approximately 2,300 employees. For more information, visit uniongas.com or find us on Twitter: twitter.com/uniongas, Facebook: facebook.com/uniongas and YouTube: youtube.com/user/uniongas.
SOURCE Union Gas Limited
For further information: Union Gas Limited, David Primorac, Public Affairs, Ph: 519 436-4600 ext. 5002058, email@example.com