TORONTO, Sept. 16 /CNW/ - Today the Ontario Energy Board approved a Quarterly Rate Adjustment Mechanism (QRAM) application for changes to natural gas commodity and delivery rates charged by Natural Resource Gas Limited (NRG) effective October 1, 2009.
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 $56 for residential consumers using 2,009 cubic meters (m(3)) a year who purchase their natural gas directly from NRG (system gas customers).
The natural gas commodity price consumers will pay for the period October 1st to December 31st, 2009 is 27.2549 cents/m(3). The Board will continue to review the natural gas commodity rates every 3 months and adjust rates if necessary.
These rate changes have no impact for consumers who have a contract with a natural gas marketer.
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