(May 22, 2014) After considering the views of individuals and groups, such as Energy Probe, the Ontario Energy Board has announced consumers will now have 27 months to pay back the $655.5 million shortfall accrued by Enbridge Gas Distribution. The Board is also slated to reassess its process of reviewing the cost of natural gas utilities pass on to customers.
Canada NewsWire, published by the Digital Journal
TORONTO, May 22, 2014 /CNW/ – The OEB announced today that it will extend the period for which most Ontario residential customers of Enbridge Gas Distribution are required to pay for unexpected, high prices incurred during the cold winter months.
The past winter was one of the longest and coldest on record in Ontario in 37 years. Today’s decision will help customers manage the monthly cost of the resulting higher prices. It means that the unexpected high price of natural gas during the past winter will be recovered from customers over 27 months instead of the standard 12 months. The impact of this decision on monthly bills will take effect on July 1, 2014 for customers who buy their natural gas through Enbridge.
“The Board finds that spreading the impact of the rate increase over an extended time period is warranted in this case to lessen the bill impact for customers that buy their gas from Enbridge,” the decision states.
In arriving at this decision the Board took into account the views of individual consumers and consumer stakeholder groups, such as the Federation of Rental-housing Providers of Ontario, Consumers Council of Canada, the Vulnerable Energy Consumers Coalition, the Industrial Gas Users Association, Energy Probe and the Canadian Manufacturers & Exporters.
After considering the views of those groups and individuals, the Board also intends to review its process of reviewing the cost of natural gas that utilities pass on to customers.
SOURCE Ontario Energy Board