FortisBC maintains low costs for natural gas and propane customers
Jun 18, 2019, 12:48 ET
SURREY, BC, June 18, 2019 /CNW/ - FortisBC has received regulatory approval from the British Columbia Utilities Commission (BCUC) to maintain the cost of natural gas for the majority of natural gas customers from the period of July 1 to September 30, 2019. Natural gas customers in Fort Nelson and propane customers in Revelstoke can look forward to a decrease in their energy bills.
"With over one million natural gas customers and more than half of B.C. homes using natural gas, FortisBC is proud to serve users with a high-quality energy source at a continued fair price," said Dennis Swanson, FortisBC's vice-president of energy supply and resource development. "FortisBC does not mark up the cost of natural gas or propane, so our customers pay what we pay. The cost of gas remains low for us, which in turn means we can pass these savings along to our customers."
Natural gas rates in British Columbia continue to remain near their lowest levels in over a decade while the cost of propane has not seen a decrease since December 2018, until now.
"Natural gas is a popular choice for British Columbians looking for affordable and reliable ways to heat their homes," shared Swanson. "For anyone considering making the switch to natural gas, this is a good time to do it."
As of July 1, 2019:
Mainland & Vancouver Island (including North and South Interior)
- There is no change to the current approved cost of gas rate, which remains at $1.549 per gigajoule (GJ).
- This rate has remained steady since January 2018.
Fort Nelson
- Fort Nelson customers will see their current approved cost of gas rate decrease from $1.552 per GJ to $1.048 per GJ.
- Based on an average annual consumption of 125 GJ, this works out to an overall decrease of approximately $63 for a full year, or eight per cent.
Revelstoke
- Revelstoke residential customers will see a decrease to their cost of propane rate from $11.446 per GJ to $9.448 per GJ.
- Based on an annual average consumption of 50 GJ, this works out to an overall decrease of approximately $100 for a full year, or 11 per cent.
For more information about rates, visit: fortisbc.com/rates.
FORTISBC
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 more than 1,800 British Columbians and serves approximately 1,008,400 customers in 135 B.C. communities. FortisBC Energy Inc. owns and operates approximately 49,000 kilometres of natural gas transmission and distribution pipelines. FortisBC Energy Inc. is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. For further information, visit www.fortisinc.com.
BACKGROUNDER
Historical data for Mainland & Vancouver Island (including North and South interior)
Items on a customer's bill
Basic charge
The basic charge is a flat daily fee that partially recovers the fixed costs of our system, whether or not you are using any natural gas, as long as you are connected to the system. The basic charge is reviewed by the British Columbia Utilities Commission (BCUC) annually.
Delivery charge
The delivery charge is based on consumption and pays for the cost of safely and reliably delivering gas through our system to your home or business. This helps cover the costs of maintaining our natural gas distribution system, earn a return on the amounts invested in our business and fund improvements to meet customers' needs. Delivery charges are reviewed by the BCUC annually.
Storage and transport
Storage and transport reflects the prices we pay to other companies to store and transport gas through their pipelines and infrastructure. We do not mark up these costs, and they are reviewed quarterly and set annually by the BCUC.
Cost of gas
Every three months, FortisBC reviews natural gas and propane cost of gas rates with the BCUC to make sure rates passed on to customers cover the cost of purchasing the gas on their behalf.
- Factors affecting the market price of natural gas and propane in North America include weather, supply and demand and economic conditions.
- Propane prices are also influenced by global oil markets.
- FortisBC does not mark up the cost of natural gas or propane. Customers pay what we pay.
Other charges and taxes
Other charges and taxes include the B.C. carbon tax, Clean Energy Levy, goods and services tax (GST) and, in some municipalities, a municipal operating fee. These charges are set by various levels of government and collected by FortisBC on their behalf. FortisBC does not gain revenue from these charges.
SOURCE FortisBC
For further information: MEDIA CONTACT: Diana Sorace, Corporate Communications Advisor, FortisBC Energy Inc., T: 604-328-0790, [email protected], fortisbc.com, 24-hour media line: 1-855-322-6397