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

Seabird Island opens 50th annual festival

The weekend festival will see First Nations teams compete in soccer, three-pitch and canoe races

Lofty plans for Chilliwack school district revealed

Chilliwack school district draws up plan to add 2,900 student seats in five years

Agassiz study to look at drone use for pesticide application

The study will be the first in Canada to use drones to apply pesticides to farm fields

Chilliwack’s pediatric observation unit gets financial shot from trades workers

Unions and contractors donate more than $30,000 to Fraser Valley Health Care Foundation

Delays en route for Highway 7 in Harrison Mills

Road resurfacing will cause month-long delays for drivers travelling through Harrison Mills

VIDEO: Powwow shares culture at Seabird Island Festival

The 50th anniversary of the festival saw its first powwow

Raptors beat Bucks 100-94 to advance to franchise’s first-ever NBA Finals

Leonard has 27 points, 17 boards to lead Toronto past Milwaukee

Third person charged in death of B.C. teen Bhavkiran Dhesi

Inderdeep Kaur Deo facing charge of accessory after the fact to murder

Kamloops girl, 9, recovering from carbon monoxide poisoning now out of ICU

Her mother who was sleeping in the same tent with her did not survive

UPDATE: Surrey RCMP say boy, 11, missing for two days found safe

Dominic Mattie was last seen at 5 p.m. in the 13500-block of Gateway Drive in Surrey

‘I think he’s still alive’: B.C. mom pleads for help finding son last seen a month ago

Family offering $5,000 reward for information leading to the safe return of Tim Delahaye

New poll suggests one-third don’t want politicians to wear religious symbols

Local politicians shouldn’t be allowed to wear hijabs, crucifixes or turbans on the job, survey suggests

Raptors fans far from home adjust plans to watch pivotal playoff game

Raptors currently lead the playoff series 3-2, and a win Saturday would vault them into NBA finals

Most Read