Understanding rates
More information on rates
No one controls or regulates the price of natural gas itself, as it's traded on the open market, like lumber or coffee. The price is set by the supply and demand for the product.
Terasen Gas
Terasen Gas is regulated by the BC Utilities Commission (BCUC). Each quarter, we meet with the BCUC to
- review the price of gas on the open market and
- forecast what we will have to pay for the commodity.
We then set a rate (the commodity charge) that allows us to recover the actual cost of the gas.
Delivery charges are reviewed with the BCUC once a year.
Gas marketers
While the BCUC oversees the gas marketers' business activities, it does not regulate the prices offered by marketers. This means marketers are free to offer different prices and terms for each of their customers.
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