PUB approves 20% primary gas rate hike
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This article was published 27/04/2022 (396 days ago), so information in it may no longer be current.
Natural gas prices for Manitobans have spiked sharply, just weeks after they had tumbled dramatically.
The Public Utilities Board said in a statement Wednesday it had approved a 20.5 per cent increase in natural gas prices for customers who do not have fixed-term fixed-price contracts with Centra Gas or a private broker.
The PUB said the rate hike would cost the average residential customer about $150 more per year. It comes into effect May 1.
Manitoba Hydro spokesman Bruce Owen said the jump represents the increased cost the utility pays for primary gas.
“Manitoba Hydro earns no profit on the sale of primary gas,” Owen said. “The price the utility pays is passed directly on to customers with no markup.
“Increasing natural gas prices are due to a colder-than-usual early spring season across much of North America which has reduced natural gas storage inventories in Canada and the United States.”
Owen noted what goes up can go down: the last primary gas rate change in February saw it drop 14.2 per cent, or about $121 per year for the average residence.
Natural gas prices are still below the market prices experienced during many of the years between 2000 and 2009 because of more current production, he said.