Ctv.ca Updated: Fri Sep. 04 2009 12:30:51 The Canadian Press
Terasen Gas is planning to cut natural gas rates for its customers across many parts of British Columbia, citing a slump in the commodity price now at its lowest level in more than five years.The utility, a division of Fortis Inc. (TSX:FTS), said Friday it has filed a request with the British Columbia Utilities Commission regulatory body to lower rates starting Oct. 1. If approved, Terasen said a typical household could save just under $100 annually its gas bills.
For customers in the Lower Mainland, Fraser Valley, Interior, North and the Kootenays, Terasen said it is asking for a commodity rate decrease of $1.01 per gigajoule (GJ).If the application is approved, Terasen said customers will see their total annual gas bill decrease by about nine per cent, or approximately $76 to $96 per year, depending on consumption levels.If approved, the cost of gas decrease to $4.95 per GJ will not affect the commodity rate for customers participating in the Customer Choice program, Terasen said.
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