FortisBC Energy Inc. has been granted approval by the British Columbia Utilities Commission (BCUC) to reduce the cost of gas rates for all of its customers. Starting on October 1, the gas rate will decrease from $3.159 per gigajoule (GJ) to $2.230 per GJ. This decrease in cost will result in lower gas bills for families and businesses that rely on gas for cooking and heating their homes.
Joe Mazza, the vice-president of energy supply and resource development at FortisBC, expressed understanding for the importance of energy costs in household budgets. He stated that FortisBC aims to deliver gas safely and reliably at the lowest reasonable cost. The decrease in gas rates will provide customers with relief as the colder fall and winter seasons approach.
For most residential customers, the average monthly gas bill is expected to decrease by around $7 or eight percent, based on an average household consumption of approximately 90 GJ per year. In Fort Nelson, customers can expect an average monthly bill decrease of approximately $10 or ten percent, based on an average household consumption of approximately 125 GJ per year.
FortisBC acquires natural gas at market-based prices, and the cost is passed on directly to customers. The fluctuations in the price of natural gas are influenced by factors such as supply and demand and economic conditions in North America.
FortisBC’s gas system plays a significant role in British Columbia’s transition to a lower-carbon energy future. The current gas system has the potential to deliver low-carbon energy options, including Renewable Natural Gas and other renewable and low-carbon gases. These alternatives can replace conventional natural gas in the gas system.
The approval to decrease gas rates reflects FortisBC’s commitment to providing safe and reliable energy to its customers. FortisBC Energy Inc., a subsidiary of Fortis Inc., employs over 2,096 British Columbians and serves approximately 1,075,595 customers across the province.
For more information about FortisBC rates and gas bill components, visit the company’s official website.
Definitions:
– Renewable Natural Gas: Produced differently from conventional natural gas, it is derived from biogas that is captured and cleaned from decomposing organic waste, agricultural waste, and wastewater from treatment facilities.
– Renewable and Low-Carbon Gas: Refers to low-carbon gases or fuels that FortisBC can acquire under the Greenhouse Gas Reduction (Clean Energy) Regulation. This includes Renewable Natural Gas, hydrogen, synthesis gas, and lignin.
Sources:
– FortisBC Energy Inc.