The British Columbia Utilities Commission has approved natural gas rate changes in the Lower Mainland, Vancouver Island, and Fort Nelson service areas.
For the Mainland and Vancouver Island, the annual bill for a residential customer with an average annual consumption of 90 gigajoules will increase by approximately $126 or 10.7 percent.
The new rates will be in effect on July 1. BCUC says commodity prices have increased dramatically because of volatility in the gas market and geopolitical factors.
BCUC says it recognizes the impact the rate changes will have on customers and has encouraged Fortis and other energy utilities to ‘think creatively’ and explore all options to mitigate this impact.
The BCUC reviews gas costs every quarter and doesn’t approve utilities to earn a return or profit on the cost they incur to purchase the commodity.
Of course they are…