FortisBC raising gas price by 80%. W T MF F
 

Seriously ...80% and just in time for the winter cold season....wow...

FortisBC customers to pay $82 more for gas on average per year - NEWS 1130

VANCOUVER (NEWS 1130) – FortisBC says it has been given the green light from the BC Utilities Commission to up its natural gas rates by 80 per cent.

As of Oct. 1, customers will pay $2.05 per gigajoule, up from $1.14. Because the price of gas only makes up a fraction of an overall bill, the average homeowner can expect an increase of $82 per year, based on the average use of 90 gigajoules per year.

“That is the largest increase we’ve had in a while and actually it’s one of the few increases we’ve had in a while,” FortisBC spokesperson Michael Allison says.

The company, which buys natural gas at market rates and transports it to BC customers, blames the spike of global prices since spring and increased demand due to hot summer weather across North America leading to more air conditioner usage.

The hotter-than-normal summer, for most of Canada and the US, has resulted in higher-than-expected continental demand for electricity, which is often generated by natural gas,” says Dennis Swanson, vice-president of energy supply at FortisBC. “This combined with a slowdown in natural gas production has led to an increase in prices during the past few months.”

Customer Choice program participants won’t be affected by the rate increase until their contract is up and they have to negotiate a new one.

Despite the uptick, the company claims natural gas prices are near their lowest level in a decade and it suggests that as winter approaches, people use their energy more efficiently.

Natural gas prices hit their lowest this year in early March and nearly doubled by mid-June.

what isn't raising these days

Wages

kind of misleading. they are increasing the cost of the gas itself by 80% but the gas itself only makes up like 10% of the bill. delivery, tax, and fees make up the biggest portion of the bill.

bills wont' stop raising

actually.... BC's minimum wage is increasing 40 cents on Sept 15 :toot:

but the rest of us that don't make minimum probably won't be getting that 40 cents increase

Still a lower rate than the scammy fixed price gas marketers.

Well, they gotta pad their dividend their giving me every quarter =D

Good job Fortis, looking after your investors ;)

Le sigh....no surprising sadly.

Not sure what you are getting upset about. They are regulated with assets ring-fenced, basically earning ROE based on a capital structure that's allowed by the regulator - BCUC. Unless you have some reasonable doubts that FortisBc is being wasteful and BCUC not doing its job monitoring resulting in inappropriate expenses going into the rate base, you have nothing to complain about. You bear the fluctuation in gas prices as they are just passed onto you. There are too many fucking whiners complaining about every little thing while they continue to poorly manage their own money.

Still rather have gas heating over baseboard heating charged at Tier 2 hydro prices.

We only use 2/12 baseboard heaters, 6months of the year. The rest of my place is easily heated by the gas fireplace.

translation...i'm too poor to use all the baseboard heaters in my house at the same time

:troll:

i use probably just the bedroom one the most and the living room along with the gas fireplace when we have guests...most of the time i've got just the gas fireplace running cus i'm hanging out in the living room.
When i work in my office room, i usually suck it up and put on another layer instead of turning on the baseboard heaters :lawl:

Lol. We only use the ones in the bathrooms. The rest of the place is warm enough. If the fireplace gets left on low or even just the pilot light stays on, overnight, the wife complains that it's too warm.

meh who cares, LNG is cheap and I just bought a wicked 5 burner double oven gas range I can't wait to use.