FortisBC has received regulatory approval from the British Columbia Utilities Commission to increase the price of natural gas from August 1.
FortisBC customers will see monthly bills increase by approximately six dollars per month, or nine per cent, based on an average household consumption of eight gigajoules (GJ) of natural gas per month.
FortisBC said the price of natural gas had risen recently due to a drop in North American natural gas production and the worldwide impacts of the COVID-19 pandemic.
FortisBC said it didn’t mark up the cost of natural gas or propane and customers pay what FortisBC paid to buy the gas.
“We strive to provide a safe and reliable supply of natural gas at the lowest reasonable cost,” said Diane Roy, vice-president of regulatory affairs. “Even with the current cost of gas increase, natural gas prices in British Columbia remain among their lowest levels in almost 15 years.”
FortisBC reviews the costs of natural gas and propane rates with the BCUC to make sure the rates passed on to customers are fair. The next review of these rates will be in October.