Natural gas rates drop

Natural gas rates are going down again.

Falling natural gas prices should save the typical gas-heated household $66 next year, according to Terasen Gas.

Bills are projected to total $1,009 annually, down more than six per cent from $1,075 in 2010.

Lower rates for natural gas were approved this month by the B.C. Utilities Commission and take effect Jan. 1.

The price drop is due to a glut of natural gas on the market, continued strong production and lower than expected demand.

Terasen passes on the commodity cost of the gas without markup, instead earning its profit on the separate delivery charges to transport it.

Not benefitting from the low prices are those households that locked in to long-term rates offered in 2007 by rival gas marketers who are reaping big profits.

Most of those customers are a year away from escaping from their contracts, which force them to pay rates that are now at least double Terasen’s new fluctuating rate.

Just Posted

Pedestrian in critical condition after South Surrey crash identified

RCMP said they have been in contact with the woman’s family

Tourism report gives White Rock high marks

Surveys indicate parking, walkability and restaurants are priorities for visitors

Beach House Theatre auditioning for 2018 season

Summer lineup a Neil Simon farce and an ‘electric’ adventure for children

Finding Success: It’s not Delta’s students, it’s the system

The Delta School District is re-examining what it can do to support its Indigenous students

Rhythmic gymnasts set for competition at Cloverdale Fairgrounds this weekend

Elegant, artistic sport a great way to build self-confidence, says coach

VIDEO: Climber ‘catches the sunrise’ over city atop B.C. crane

Police warn ‘rooftopping’ poses risk to climber, public and first responders

VIDEO: ‘Big time disappointment’ as Vancouver Giants fall to undermanned Kelowna Rockets

Head coach Jason McKee very unhappy with effort in Giants’ regular season home finale

Salmon Arm community cheers on Natalie Wilkie as she wins first gold medal

Local skier tops the podium in 7.5km race at the PyeongChang Paralympics

Experts: Society has a role in trying to prevent domestic violence

Experts are speaking out following the murder of a woman and her son in Ontario

Progress on fixing Phoenix pay system backlog could be short-lived: Ottawa

Feds have said they won’t try to recover money overpaid until all outstanding issues are fixed

Northern lights chasers in Canada discover new type named ‘Steve’

Phenomenon linked to a powerful current created by charged particles in Earth’s upper atmosphere

Delta South MLA calls high-speed rail study a ‘crazy announcement’

‘You’d be better off to move to Seattle’ than to travel to Vancouver from the Lower Mainland

Washington state backs B.C. in pipeline dispute

Governor Jay Inslee says he is ‘allied’ with the province on Trans Mountain expansion projection

SAY WHAT? Readers weigh in on high-speed rail to U.S.

B.C. to contribute $300,000 to a million-dollar business study on the proposed project

Most Read