Gas prices remain unchanged for Terasen Gas customers through to September
| June 19, 2007 |  Follow us on Twitter |
SURREY - The price Terasen Gas customers pay for their natural gas will not increase this summer in accordance with the quarterly rate review recently completed by the BC Utilities Commission (BCUC).
The existing Terasen Gas residential rate for customers on the Lower Mainland, Vancouver Island, Fort Nelson, Inland and Columbia service areas will remain in effect until September 30, 2007.
As rates can either increase or decrease, Terasen Gas reviews natural gas commodity prices with the BCUC every three months to ensure the rates we charge customers for natural gas are equal to the cost of purchasing the gas.
Terasen Gas purchases natural gas on behalf of its customers and passes its cost on without mark up. Terasen Gas earnings come from the delivery charges – what the company charges to bring the natural gas to a home or business.
Natural gas is a commodity traded on the open market like oil, coffee or lumber. Factors affecting the price of natural gas include weather, supply and demand, international events and market speculation.
The average house located in the Lower Mainland uses about 110 gigajoules of natural gas per year.
Understanding your bill – Your Terasen Gas bill is made up of two types of charges.
- Delivery – the charge to deliver gas to your home through the Terasen Gas pipeline system. This includes a basic charge and delivery charge.
- Commodity – the cost of the gas used to operate your appliances and heating equipment. In regions where CUSTOMER CHOICE is available, midstream charges are also shown. Midstream refers to charges we pay other companies who store, transport and help us manage the gas we deliver. Midstream charges are not new, but have been broken out to make it easier for customers to compare the commodity charge per gigajoule with rates offered by natural gas marketers. The commodity charge is also the only part of the monthly bill customers can contract for with a gas marketer.
Terasen Gas - a wholly owned indirect subsidiary of Fortis Inc. - is the common name of Terasen Gas Inc., Terasen Gas (Vancouver Island) Inc., and Terasen Gas (Whistler) Inc. Terasen Gas uses the Terasen Gas name and logo under license from Terasen Inc.
Media contact:
Joyce Wagenaar
Corporate Communications Manager
Phone: (604) 592-7682
E-mail: joyce.wagenaar@terasengas.com
Joyce Wagenaar
Corporate Communications Manager
Phone: (604) 592-7682
E-mail: joyce.wagenaar@terasengas.com
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