SURREY, BC, June 7, 2024 /CNW/ – FortisBC Energy Inc. (FortisBC) has received approval from the British Columbia Utilities Commission (BCUC) to maintain the cost of gas rate for its customers at $2.230 per gigajoule (GJ). The BCUC reviews FortisBC’s cost of gas rate every three months and will review it in September.
“The cost of gas staying the same this quarter is good news for the families and businesses we serve, especially at a time when the cost of living is continuing to rise,” said Joe Mazza, vice-president of energy supply and resource development at FortisBC. “Commodity rates remain stable due to strong natural gas production volumes and high storage inventory in Western Canada.”
FortisBC acquires natural gas at market-based prices and factors like supply and demand, weather and economic conditions affect the price of natural gas in North America. We do not mark up the cost of gas, so our customers pay what we pay.
Customers who have questions about their bill are encouraged to reach out. FortisBC’s customer service team can answer billing questions, provide information about energy-saving tips and offer payment plan solutions that fit your personal needs.
For more information about rates and the components that make up a FortisBC gas bill, visit fortisbc.com/rates.
About FortisBC Energy Inc.
FortisBC Energy Inc. is a regulated utility focused on providing safe and reliable energy, including natural gas, Renewable Natural Gas and propane. FortisBC Energy Inc. employs around 2,096 British Columbians and serves approximately 1,075,595 customers across British Columbia. FortisBC Energy Inc. owns and operates approximately 51,174 kilometres of gas transmission and distribution pipelines. FortisBC Energy Inc. is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. FortisBC Energy Inc. uses the FortisBC name and logo under license from Fortis Inc. For further information on FortisBC, visit www.fortisbc.com. For further information on Fortis Inc., visit www.fortisinc.com.
BACKGROUNDER
Historical data for Mainland & Vancouver Island (including North and South Interior)
Items on a residential gas customer’s bill
Daily or monthly basic charge
The basic charge is a flat fee that partially recovers the fixed costs of our system, whether or not you are using any gas, as long as you are connected to the system.
Delivery charge
The delivery charge is based on consumption and pays for the cost of safely and reliably delivering gas through our system to our customers’ homes and businesses. This helps cover the costs of maintaining our gas distribution system, provides a return to our investors and funds improvements to meet customers’ needs. Delivery charges are reviewed by the BCUC annually.
Storage and transport charge
The storage and transport charge reflects the prices we pay to other companies to store and transport gas through their pipelines and infrastructure. We do not mark up these costs, and they are reviewed quarterly and set annually by the BCUC.
Cost of gas rates
Every three months, FortisBC reviews the cost of gas rates with the BCUC to make sure rates passed on to customers cover the cost of the commodity purchased on their behalf. We do not mark up the cost of gas, so customers pay what we pay. Factors affecting the market price of natural gas in North America include weather, supply and demand and economic conditions.
Other charges and taxes
Other charges and taxes include the B.C. carbon tax, Clean Energy Levy, goods and services tax and, in some municipalities, a municipal operating fee. These charges are set by various levels of government and collected by FortisBC on their behalf. FortisBC does not gain revenue from these charges.
SOURCE FortisBC Inc.
Featured image: Megapixl © zorandim
