TORONTO, Sept. 22 /CNW/ - Today the Ontario Energy Board approved changes to natural gas commodity and delivery rates charged by Enbridge Gas Distribution Inc. (Enbridge) effective October 1, 2009. The new rates reflect the Board's decision approving Enbridge's Quarterly Rate Adjustment Mechanism (QRAM).
This quarterly rate adjustment to the natural gas commodity price reflects a decrease in the forecast average price of natural gas over the next 12 months. Natural gas utilities forecast the price of natural gas quarterly to determine what they expect to pay for the natural gas they supply to their customers over a 12-month period.
Consumers' bills will change depending on the amount of natural gas used, and type of consumer. The changes will result in an annual decrease of approximately $21 for residential consumers using 3,064 cubic meters (m(3)) a year who purchase their natural gas directly from Enbridge (system gas customers).
The combined effect of the approved natural gas commodity price and the gas price adjustment means consumers will pay an effective rate of 12.954 cents/m3 for the period October 1st to December 31, 2009. As a result of the gas price adjustment, typical residential customers would also see an annualized decrease of approximately $161, while the adjustment is in effect.
Consumers who purchase natural gas from a natural gas marketer (direct purchase customers) will see an annual decrease of approximately $3 to their bill resulting from changes to transportation charges, but will continue to pay the price of natural gas set out in their contract.
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 and works toward this vision through regulation that is 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.
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SOURCE Ontario Energy Board
For further information: For further information: Vanda Wall, Ontario Energy Board, (416) 440-8149