OEB approves natural gas commodity prices for Enbridge Gas Distribution Inc.

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

Residential consumers who buy natural gas directly from Enbridge and use 3,064 cubic meters (m3) a year will see a decrease of $27 per year on their overall bills.

The natural gas commodity price consumers will pay for the period of October 1 to December 31, 2011 is 13.6891¢/m3. When combined with the gas supply cost adjustment, consumers will pay an effective price of 12.2284¢/m3.

   Natural Gas Price   
   Gas Supply Cost Adjustment   
   Effective Price   
13.6891 -1.4607 12.2284

The rate changes reflect lower natural gas prices in North America.

The Board also approved a one-time charge of approximately $3 that will appear on October bills to clear deferral accounts reflecting the difference between what customers paid between January 1, 2010 and December 31, 2010 and the actual costs incurred.

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.

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

Historical natural gas price information can be found at http://www.ontarioenergyboard.ca/OEB/Consumers/Natural+Gas/Natural+Gas+Rates/Natural+Gas+Rates+-+Historical

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 Public Inquiries
Vanda Wall 416-314-2455
Ontario Energy Board          Or 1-877-632-2727


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