Natural Gas Price Going Down

Friday, March 13, 2009 05:29 PM

Prince George, B.C.- As of April 1st, the price of natural gas will be lower for Terasen Gas customers in several regions of the province including Prince George,.

“These decreases mean our customers in some regions are enjoying the lowest rates in more than five years,” said Cynthia Des Brisay, Terasen Gas Vice President, Gas Supply and Transmission. “Conditions in the North American commodities market have allowed us to apply for these lower rates, which we are pleased to be able to pass on to our customers.”

In the Interior, Lower Mainland, Fraser Valley, North and the Kootenays, the commodity rate will decrease $1.57 per gigajoule (GJ). This works out to an annual savings of about 12 to 13 per cent, or approximately $124 to $156 per year, depending on consumption levels.

The cost of gas decrease to $5.96 per GJ does not affect the commodity rate for customers participating in the Customer Choice program.

In the Fort Nelson area, total annual bills for customers will decrease by 14 per cent, or $202 per year, based on consumption of 140 GJ per year.

Customers in Revelstoke will see a propane rate decrease of $4.15 per GJ, which works out to a savings of approximately 22 per cent, or $212 on a total annual bill, based on an average annual consumption of 50 GJ per year. The commodity rate decrease reflects a drop in global oil prices, which propane rates closely follow.

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Posted on Friday, March 13, 2009 05:29 PM in News by 250 News

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Comments

Posted by: acrider54 on March 14 2009 6:52 AM

Just in time for summer.

Posted by: lostfaith on March 14 2009 9:07 AM

My thoughts exactly.

Posted by: kitkat on March 14 2009 1:42 PM

This must be a typo!

Posted by: my2bits on March 14 2009 2:36 PM

In the northwest - Kitimat, Terrace, Prince Rupert areas, the delivery cost of natural gas is now approx. 8.50 per GJ. This is about 3X the rate of Terasen, resulting in gas bills around 40% higher than anywhere else in the province.

As more people go to alternate sources of heat, the company applies to the B.C.U.C. for a delivery charge increase to make up for the loss of customers. The utilities commission always complies, stating that Pacific Northern Gas shareholders cannot take a drop in income.

If they said "no", the company would probably go into bankruptcy, and be picked up by Terasen, and that part of the province would then probably be paying the same as everyone else.