SURREY, BC, June 19 /CNW/ - The price Terasen Gas customers pay for their
natural gas will not increase this summer in accordance with the quarterly
rate review recently completed by the BC Utilities Commission (BCUC).
The existing Terasen Gas residential rate for customers on the Lower
Mainland, Vancouver Island, Fort Nelson, Inland and Columbia service areas
will remain in effect until September 30, 2007.
As rates can either increase or decrease, Terasen Gas reviews natural gas
commodity prices with the BCUC every three months to ensure the rates we
charge customers for natural gas are equal to the cost of purchasing the gas.
Terasen Gas purchases natural gas on behalf of its customers and passes
its cost on without mark up. Terasen Gas earnings come from the delivery
charges - what the company charges to bring the natural gas to a home or
Natural gas is a commodity traded on the open market like oil, coffee or
lumber. Factors affecting the price of natural gas include weather, supply and
demand, international events and market speculation.
The average house located in the Lower Mainland uses about 110 gigajoules
of natural gas per year.
Understanding your bill - Your Terasen Gas bill is made up of two types of
- Delivery - the charge to deliver gas to your home through the Terasen
Gas pipeline system. This includes a basic charge and delivery
- Commodity - the cost of the gas used to operate your appliances and
heating equipment. In regions where CUSTOMER CHOICE is available,
midstream charges are also shown. Midstream refers to charges we pay
other companies who store, transport and help us manage the gas we
deliver. Midstream charges are not new, but have been broken out to
make it easier for customers to compare the commodity charge per
gigajoule with rates offered by natural gas marketers. The commodity
charge is also the only part of the monthly bill customers can
contract for with a gas marketer.
Terasen Gas - a wholly owned indirect subsidiary of Fortis Inc. - is the
common name of Terasen Gas Inc., Terasen Gas (Vancouver Island) Inc., and
Terasen Gas (Whistler) Inc. Terasen Gas uses the Terasen Gas name and logo
under license from Terasen Inc.
For further information:
For further information: Media contact: Joyce Wagenaar, Corporate
Communications Manager, Phone: (604) 592-7682, E-mail: