TORONTO, June 25 /CNW/ - Today the Ontario Energy Board (the Board)
approved Enbridge Gas Distribution Inc.'s (Enbridge) Quarterly Rate Adjustment
Mechanism effective July 1, 2007.
As a result of a change in price of less than 0.5 cents per cubic meter
(cents/m(3)) in the forecast utility price of natural gas over the next 12
months there will be no change to the rates Enbridge charges. The commodity
price residential consumers will continue to pay is 32.8599 cents/m(3).
The OEB has also approved a change to the gas cost adjustment for system
gas customers for the period of July 1, 2007 to December 31, 2007. A typical
residential customer will now see a refund of 6.6333 cents/m(3). The credit
represents the difference between the actual and forecasted cost of natural
The combined effect of the natural gas commodity price and the gas price
adjustment means consumers will pay an effective rate of 26.2266 cents/m(3)
for the period July 1st to September 30, 2007.
Consumers who purchase their gas commodity from a natural gas marketer
will see no change to their overall annual bill. This does not include the
terms of any direct purchase contracts that the consumer has entered into with
a natural gas marketer. These rate changes do not have any impact on the price
of the natural gas commodity direct purchase consumers pay as a result of a
contract with a natural gas marketer.
Natural gas utilities forecast the price of natural gas on a quarterly
basis to determine what they expect to pay for the natural gas they supply to
their customers over a twelve-month period. Supply disruptions caused by
unforeseen events, the price of oil on the world market, and severe or
abnormal weather can impact the market price of natural gas. The Board will
continue to review the natural gas commodity rates for system gas customers
every 3 months and make an adjustment to rates, if necessary.
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 served by responsive regulatory processes that
are effective, fair and transparent.
For more information on the Board, please visit our web site at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.
For further information:
For further information: Vanda Wall, Ontario Energy Board, (416)