FortisBC natural gas customers benefit from recent BC Utilities Commission decision

SURREY, BC, March 12, 2012 /CNW/ - The British Columbia Utilities Commission (BCUC) confirmed today that, most of FortisBC's natural gas customers will see a commodity rate decrease starting April 1, 2012. This also includes piped propane customers living in Revelstoke. Midstream and delivery rates for customers are not affected by this decision. "The rates approved today are allowing our customers to continue to benefit from some of the lowest delivered natural gas prices in more than a decade," said Cynthia Des Brisay, Vice President of Energy Supply and Resource Development. "A mild North American winter, growing supply of natural gas and reduced demand have come together to keep natural gas prices low. "This has allowed us to flow through a natural gas and a propane rate decrease at this time."
Natural gas and propane rates will change as follows on April 1, 2012:
Lower Mainland, Fraser Valley, Interior, North and the Kootenays

• Commodity rate decrease of $1.028 per gigajoule (GJ) for customers, meaning the commodity rate will drop from $4.005 per GJ to $2.977 per GJ. The average residential customer using approximately 95 GJ per year will see a decrease of approximately $98 per year or a 9.9 per cent decrease. Commodity rates for customers participating in the Customer Choice program will not be affected, as they purchase the gas commodity from a licensed gas marketer.