Enbridge Gas Distribution to Raise Gas Supply, Says Residential Customers Rates to Increase $65/Year
Enbridge Gas Distribution Inc. (NYSE: ENB), a regulated natural gas distribution utility, announced today that it has received approval from the Ontario Energy Board (OEB) for new rates effective January 1, 2013. For typical residential customers(i) who buy their gas supply and transportation from Enbridge Gas Distribution, the changes will result in an overall increase of approximately $65 annually. This is primarily due to increased commodity costs. The impact also reflects changes to Enbridge's 2013 rates. Typical residential customers, who purchase their gas supply from a marketer and obtain transportation services from Enbridge Gas Distribution, will see an increase of about $6 annually. This is primarily due to increased costs to transport and deliver natural gas. The impact also reflects changes to Enbridge's 2013 rates. Effective January 1, 2013, Enbridge Gas Distribution's Gas Supply Charge will increase from 10.7 cents per cubic metre ( cents/m3) to 12.8 cents/m3. The Cost Adjustment includes a refund on Gas Supply of 2.1 cents/m3. Combined, these result in an effective Gas Supply Charge of 10.7 cents/m3. Enbridge Gas Distribution does not earn a profit on the price of natural gas. Gas supply costs are passed through to customers without any mark-up. Any difference between forecast costs and actual prices is either collected from or returned to customers through a Cost Adjustment.
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