British Columbians are about to save on natural gas.
FortisBC has been given the go-ahead by the British Columbia Utilities Commission (BCUC) to decrease gas rates for all its customers until June 30. That means as of April 1, the cost of gas will drop by $1 from $5.159 per gigajoule to $4.159.
The rates were approved on March 16.
Customers on Vancouver Island and the Mainland should see their monthly bills drop by about $7.50 or seven per cent based on average household consumption, which is usually 90 gigajoules per year, FortisBC said Friday.
The utility says customers in Fort Nelson, for example, could see bills drop even more since average household consumption there is typically higher at 125 gigajoules per year.
A gigajoule, or GJ, is a unit of measurement of energy consumption, and FortisBC says customers’ bills are based on the amount of energy they use.
The utility’s vice president of energy supply and resource development Joe Mazza says the rate reduction offers some relief as living expenses reach record highs.
“Even with the cost of gas decreasing, we understand energy costs are an important consideration in household budgets and we are always here to support our customers if they need it,” added Mazza in a news release.
In its own release, the BCUC says it reviews FortisBC’s gas costs every quarter.
“Commodity rates, or gas costs, are a flow-through of the market prices that the utility pays for the commodity; the BCUC does not allow the utility to earn a profit or markup these costs. Customers pay what the utility pays,” according to the commission.
The upcoming gas rate decrease isn’t the only way British Columbians will see extra funds this spring.
Starting in April, people will also benefit from another round of the BC Affordability Credit to combat inflation. The province says around 85 per cent of B.C. residents will receive full or partial payment through the Canada Revenue Agency, just like the funds given in January.