SURREY, BC, June 11, 2013 /CNW/ - FortisBC Energy Inc. has filed its application to set delivery rates for natural gas and propane customers with the BC Utilities Commission (BCUC). In the application, FortisBC is applying for a five-year (2014-2018) regulatory plan.
"In this application, we are working to balance customer rate impacts while still ensuring we have the ability to provide safe and reliable natural gas service," said John Walker, President and CEO. "In 2014, we are requesting an increase of approximately one half of a percentage point."
The regulatory approach filed would benefit customers through the savings built into the delivery rates themselves, and through any cost savings the utility generates above these amounts, which will be shared with the customer.
The cost of natural gas service varies from region to region. In the near future, FortisBC expects to file revenue requirement applications for its gas companies serving customers in Fort Nelson, Whistler, Vancouver Island and the Sunshine Coast.
The delivery portion of rates is what FortisBC charges to recover costs associated with delivering natural gas and propane to customers, including pipeline maintenance, emergency services and customer service. Delivery rates enable the company to invest in infrastructure to enhance safety and reliability of the system and meet the future needs of our customers.
FortisBC is a regulated utility focused on providing safe and reliable energy, including natural gas, electricity, propane and thermal energy solutions. FortisBC employs more than 2,200 British Columbians and serves approximately 1.1 million customers in more than 135 B.C. communities. FortisBC is indirectly wholly owned by Fortis Inc., the largest investor-owned distribution utility in Canada. FortisBC owns and operates four regulated hydroelectric generating plants, approximately 7,000 kilometres of transmission and distribution power lines, and approximately 47,000 kilometres of natural gas transmission and distribution pipelines. FortisBC Inc., FortisBC Energy Inc., FortisBC Energy (Vancouver Island) Inc., and FortisBC Energy (Whistler) Inc. do business as FortisBC. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.
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