Terasen Gas is proposing to slash by an average of 12 per cent the commodity rate it charges many of its British Columbia customers for natural gas. An application was filed Thursday with the B.C. Utilities Commission and if approved, will cut customers’ gas consumption bills by $124 to $156 per year, depending on consumption levels. If the BCUC approves, which is extremely likely, many of Terasen’s customers will be paying the lowest commodity rate for gas in five years. It will be the second time in nine months that commodity gas prices have fallen for Terasen’s variable-rate customers, reflecting a decline in the trading price of natural gas on the North American market. . Customers who have contracted their gas supply with third-party gas-marketing companies are excluded from the reduction, which applies only to the cost of gas, not the cost of delivery.
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