FortisBC maintains cost of natural gas for customers

Cost of natural gas (per GJs). (CNW Group/FortisBC)

SURREY, BC, March 13, 2017 /CNW/ - FortisBC has received approval from the British Columbia Utilities Commission (BCUC) to maintain the cost of gas for customers. As of April 1, 2017, FortisBC customers will see no change to the cost of natural gas on their billing statement.

The cost of gas rate reflects the market price of natural gas itself.  Natural gas is currently at some of its lowest commodity rates in the last 10 years. FortisBC reviews the cost of natural gas every three months with the BCUC.

Quote

"Market conditions have allowed us to maintain our current natural gas commodity rates. Through our commodity rates, we pass on the price of natural gas to our customers without markup; you pay what we pay. And while we work hard to deliver the best value for our customers, we do recognize that sometimes it can be challenging to understand the different components that make up your utility bill. We encourage our customers to visit our website or call our customer call centre to learn more about the details of your bill." 

-       Diane Roy, vice-president of regulatory affairs, FortisBC

As of April 1, 2017:

Lower Mainland, Vancouver Island, Whistler, Fraser Valley, Interior, North and the Kootenays

• There is no change proposed to the current approved Cost of Gas Charge of $2.050 per gigajoule (GJ).

Fort Nelson

• Customers in Fort Nelson will not see any changes to their cost of gas rates. Their Gas Cost Recovery Charge remains at $2.086 per GJ.

In addition to the cost of natural gas, there are other line items that customers will see displayed on their FortisBC natural gas billing statement. These charges reflect the cost of buying and transporting natural gas to our system and the delivery of gas through our system to homes. The delivery charge and storage and transport charge typically change once a year. Other fees and taxes are also collected on behalf of some municipalities and the provincial and federal government.

Quick facts

• As other energy costs continue to rise, natural gas has remained the affordable option for a decade now.
• Natural gas is the number one heating choice in Canada.
• More than 50 per cent of the total amount of energy used in a home goes toward space heating.
• Space heating and water heating together represent about 78 per cent of home energy costs.
• With natural gas space heating systems up to 98 per cent efficient, natural gas is more affordable for space and water heating than other energy sources such as electricity.

For more information about rates and to learn about what components make up your bill, visit: fortisbc.com/rates

FortisBC Energy Inc. is a regulated utility focused on providing safe and reliable energy, including natural gas, propane and thermal energy solutions. FortisBC Energy Inc. employs almost 1,800 British Columbians and serves approximately 982,000 customers in 125 B.C. communities. FortisBC Energy Inc. is indirectly wholly owned by Fortis Inc., the largest investor-owned distribution utility in Canada. FortisBC Energy Inc. owns and operates approximately 48,200 kilometres of natural gas transmission and distribution pipelines. Fortis Inc. shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at fortisinc.com or sedar.com.

SOURCE FortisBC

For further information: MEDIA CONTACT: Diana Sorace, Corporate Communications Advisor, FortisBC Energy Inc., [e-mail]; fortisbc.com, @fortisBC, 24-hour media line: 1-855-322-6397