Enbridge Gas Distribution Adjusts Prices
TORONTO, ONTARIO -- (Marketwire) -- 03/21/13 -- Enbridge Gas
Distribution Inc. (TSX:ENB) (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 April 1,
For typical residential customers(i) who buy their gas supply and
transportation from Enbridge Gas Distribution, the changes will
result in an overall decrease of approximately $10 annually. This is
primarily due to decreased 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 $4 annually. This is
primarily due to increased costs to transport natural gas. The impact
also reflects changes to Enbridge's 2013 rates.
Effective April 1, 2013, Enbridge Gas Distribution's Gas Supply
Charge will decrease from 12.8 cents per cubic metre ( cents/m3) to
12.1 cents/m3. The Cost Adjustment includes a refund on Gas Supply
of 1.8 cents/m3. Combined, these result in an effective Gas Supply
Charge of 10.3 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
Based on Enbridge Gas Distribution's approved residential rates,
natural gas is currently the most economical choice for home and
water heating in Ontario. Natural gas is about 70 per cent less
expensive than electricity and about 73 per cent less expensive than
A typical residential customer purchasing their gas supply from
Enbridge is saving about $400 on their total annual natural gas bill
compared to what they were paying five years ago. As of April 2013,
the annual bill will be about $946. Five years ago, the annual bill
for the same customer was about $1346.(i)
The total effect on a customer's bill depends on how much gas a
Enbridge Gas Distribution Inc. has a more than 160-year history and
is Canada's largest natural gas distribution company. It is owned by
Enbridge Inc., a Canadian-based leader in energy transportation and
distribution and one of the 2012 Global 100 Most Sustainable
Corporations. Enbridge Inc. has been selected as one of Canada's
Greenest Employers for 2012 and is one of Canada's Top 100 Employers.
Enbridge Gas Distribution and its affiliates distribute natural gas
to two million customers in Ontario, Quebec, New York State and New
Brunswick. For more information, visit www.enbridgegas.com.
Please see the attached backgrounder for more information about
Enbridge Gas Distribution's prices.
(i) Calculations are based on the assumption that a typical
residential customer uses about 3,064 cubic metres of natural gas a
year for home and water heating. Historical calculations use typical
monthly consumption and Enbridge Gas Distribution's residential rates
in effect from July 2007 to June 2008 as compared to those in effect
July 2012 to June 2013.
(ii) Natural gas rates are based on Enbridge Gas Distribution Inc.'s
approved residential rates effective April 1, 2013. Electricity rates
are based on Toronto Hydro's Ontario Energy Board's approved rates
effective November 2012 and do not include the Ontario Clean Energy
Benefit. Oil prices are based on publicly posted Statistics Canada
historical rates up to and including rates available as of January
2013. Costs have been calculated for the equivalent energy consumed
by a typical residential customer and include all service, delivery
and energy charges. HST is not included.
To view the fact sheet associated with this release, please see the
Enbridge Gas Distribution Inc.
Press spacebar to pause and continue. Press esc to stop.