|By Marketwired .||
|May 22, 2014 08:28 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/23/14 -- Enbridge Gas Distribution Inc., a regulated natural gas distribution utility, has received a decision from the Ontario Energy Board (OEB) regarding its April 1, 2014 rate change in which the OEB approved rates on an interim basis in March pending a review.
Today, the OEB directed Enbridge to spread the costs associated with Ontario's coldest winter in 37 years over an extended period, from 12 to 27 months.
"We support the decision to ease the impact of the extremely cold winter on our customers," said Malini Giridhar, Vice President, Enbridge Gas Distribution. "We will be implementing revised rates in the next quarterly rate adjustment."
"Enbridge does not earn a profit on the price of natural gas," she added. "Any difference between forecast costs and actual prices is either collected from or returned to customers through a Cost Adjustment."
Natural gas remains cheaper than 10 years ago and is also the most economical choice for home and water heating in Ontario, costing less than half as much as alternative fuels. Natural gas is about 60 per cent less expensive than electricity and 64 per cent less expensive than oil.(i)
There are a number of options available to help customers manage their bills:
-- Implement low or no cost energy efficiency tips www.enbridgegas.com/energyefficiency -- Join the Budget Billing Plan to spread annual natural gas costs over 11 months. Register at www.enbridgegas.com/bbp or call 1-877-362-7434 -- Find out if you qualify for assistance -- The OEB's Low-income Energy Assistance Program (LEAP) provides emergency financial assistance of up to $500 towards past due energy bills -- Enbridge's Home Weatherization Program offers free energy efficiency measures such as insulation to help lower future energy bills -- If you are having trouble paying your bill, please call us about making payment arrangements
Enbridge Gas Distribution Inc. has a more than 165-year history and is Canada's largest natural gas distribution company. Enbridge Gas Distribution delivers safe, reliable natural gas in more than 100 communities across Ontario and is a leader in promoting energy efficiency programs. It is owned by Enbridge Inc., a Canadian-based leader in energy transportation and distribution and one of the 2013 Global 100 Most Sustainable Corporations. Enbridge Inc. has been selected as one of Canada's Greenest Employers for 2013 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 or follow us on Twitter @EnbridgeGasNews.
(i) Natural gas rates are based on Enbridge Gas Distribution Inc.'s approved residential rates up to and including those effective April 1, 2014. Electricity rates are based on Toronto Hydro's Ontario Energy Board approved rates up to and including those effective May 1, 2014 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 March 2014. Costs have been calculated for the equivalent energy consumed by a typical residential customer and includes all service, delivery and energy charges. HST is not included.