FOR: ENBRIDGE GAS DISTRIBUTION INC.
Date issue: June 27, 2017
Time in: 4:55 PM e
TORONTO, ONTARIO--(Marketwired - June 27, 2017) - Enbridge Gas Distribution Inc. (Enbridge) has received approval from the Ontario Energy Board (OEB) for new rates, effective July 1, 2017. Typical residential customers(i) who buy their gas supply from Enbridge will see a total bill increase of about four per cent, or $36 a year. As a result, their total annual bill will be about $944.
The increase is due to higher natural gas prices in North America and an increase to the Cost Adjustment. The Cost Adjustment reflects the difference between forecast costs and actual costs from the past twelve months.
"Natural gas continues to provide great value to our customers, with the typical customer's total annual bill still less than it was 10 years ago," says Kerry Lakatos-Hayward, Director of Energy Supply and Gas Storage at Enbridge.
"Natural gas remains the most affordable and reliable choice for home and water heating in Ontario," added Lakatos-Hayward. "Outages rarely happen, and over the past five years, natural gas has been on average over 65 per cent less expensive than electricity and oil(ii)."
Quarterly Rate Review
Enbridge submits rate adjustment applications every three months to reflect changes in the market price of natural gas and transportation services. The applications are reviewed and approved by the OEB.
Enbridge does not earn a profit on the price of natural gas. Gas supply costs are passed through to customers without any mark-up. Any difference between forecast costs and actual prices is either collected from or returned to customers through a Cost Adjustment.
For more information on how natural gas rates are set, a video is available at enbridgegas.com/rates.
Options to help manage energy bills:
-- Customers can find tips to manage their energy use and current rebateand incentive programs at enbridgegas.com/energyefficiency. -- For qualifying customers: -- The OEB's Low-Income Energy Assistance Program (LEAP) (enbridgegas.com/LEAP) provides emergency financial assistance towards past due energy bills. -- The Home Winterproofing Program helps residential customers in financial need with free home energy efficiency improvements. Qualifying customers may have free energy efficiency improvements, such as insulation, installed to reduce their energy costs. Learn more at enbridgegas.com/winterproofing. -- Customers who are having trouble paying their bills should call Enbridge as soon as possible to set up payment arrangements.
About Enbridge Gas Distribution
Enbridge Gas Distribution Inc. has a more than 165-year history and is Canada's largest natural gas distribution company. It is owned by Enbridge Inc., a Canadian-based leader in energy transportation and distribution, and has ranked as one of the Global 100 Most Sustainable Corporations for the past eight years. Enbridge Gas Distribution distributes natural gas to over two million customers in Ontario.
For more information, visit www.enbridgegas.com or follow us on Twitter @EnbridgeGas.
(i)Calculations are based on the assumption that typical residential customers, who buy their gas supply and transportation from Enbridge, use about 2,400 cubic metres of natural gas a year for home and water heating.
(ii)Natural gas rates are based on Enbridge Gas Distribution Inc.'s residential rates effective July 1, 2017. Electricity rates are based on Toronto Hydro's Ontario Energy Board approved rates up to and including those effective July 1, 2017. Oil prices are based on publicly posted Statistics Canada historical prices up to and including rates available as of May 2017. Costs have been calculated for the equivalent energy consumed by a typical residential customer and include all service, delivery and energy charges. HST is not included.
- END RELEASE - 27/06/2017
For further information:
Enbridge Gas Distribution Inc.
FOR: ENBRIDGE GAS DISTRIBUTION INC.
INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170627CC0079
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