OEB approves rate changes for Natural Resource Gas Ltd.

    TORONTO, Dec. 21 /CNW/ - Today the Ontario Energy Board approved a
decrease to the natural gas supply rates Natural Resource Gas Limited (NRG)
charges its customers effective January 1, 2008.
    The charges for consumers purchasing their natural gas from NRG (system
gas customers), reflect a decrease in the forecast average price of natural
gas over the next 12 months. As a result of this change, the commodity cost
has decreased from 32.6808 cents/m(3) to 30.5213 cents/m(3). A residential
system gas supply customer using 2,009 m(3) per year will see an overall
annualized decrease of approximately $43.
    Residential consumers purchasing their natural gas commodity from a
natural gas marketer (direct purchase customers) will see no changes to their
gas bills as a result of this rate change. This does not include the terms of
any direct purchase contracts that the consumer has entered into with a
natural gas marketer.
    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 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: Paul Crawford, Ontario Energy Board, (416)
440-7607