Enbridge to Lower Gas Prices in April 2006
Warmer than normal weather this past January will mean lower natural gas raters this spring.
Enbridge Gas Distribution says it will apply for a price reduction, effective April 1, lowering gas prices back to where they were last October.
Enbridge says the mild January temperatures saved the average homeowner about $66 in heating costs, and also lowered the North American price for gas.
"Warmer than expected weather in key Canadian and United States heating regions has resulted in a decline in North American gas prices since the historical highs in fall of 2005," says Lino Luison, vice president of Enbridge Gas Distribution. "Natural gas market prices respond to supply and demand. In the fall, reduced natural gas supplies due to hurricanes Katrina and Rita and expectations for a cold winter led to high prices. Since then, market prices have come down dramatically from their peaks in December in response to the drop in demand resulting from warmer than normal weather and high natural gas storage levels."
Enbridge serves about 1.8 million Ontario customers. Sixty per cent buy their gas direct from the company, while the rest buy through a marketer.
Enbridge adjusts its prices every three months, in line with North American gas prices.
OttawaBusinessJournal
Enbridge Gas Distribution says it will apply for a price reduction, effective April 1, lowering gas prices back to where they were last October.
Enbridge says the mild January temperatures saved the average homeowner about $66 in heating costs, and also lowered the North American price for gas.
"Warmer than expected weather in key Canadian and United States heating regions has resulted in a decline in North American gas prices since the historical highs in fall of 2005," says Lino Luison, vice president of Enbridge Gas Distribution. "Natural gas market prices respond to supply and demand. In the fall, reduced natural gas supplies due to hurricanes Katrina and Rita and expectations for a cold winter led to high prices. Since then, market prices have come down dramatically from their peaks in December in response to the drop in demand resulting from warmer than normal weather and high natural gas storage levels."
Enbridge serves about 1.8 million Ontario customers. Sixty per cent buy their gas direct from the company, while the rest buy through a marketer.
Enbridge adjusts its prices every three months, in line with North American gas prices.
OttawaBusinessJournal
posted by Ottawa Gas Prices | 12:03 PM
0 Comments:
Post a Comment
<< Home