Surrey-headquartered Terasen Gas Inc. has received approval from the B.C. Utilities Commission to increase natural gas and propane rates.
Natural gas prices for residential customers will rise approximately 11%, or between $142 and $164 per year, in the Lower Mainland, Fraser Valley, Interior, North and the Kootenay regions of the province. Fort Nelson residents will see the largest increase of 17%.
Vancouver Island, Sunshine Coast and Power River residents will not see an increase as they are covered under a separate regulatory agreement. The rate increases will also not affect those participating in Terasen's Customer Choice program.
Propane rates will increase about 17% in Revelstoke and 16% in Whistler. Residential propane customers will see their annual bills increase approximately $297 a year in Revelstoke, and about $323 a year in Whistler, depending on their annual consumption. Terasen had requested a 23% increase in Revelstoke and a 22% increase in Whistler.
A colder winter coupled with lower natural gas imports and fears of production disruptions in the Gulf of Mexico have contributed to higher prices in the North American market. Propane prices have been affected by the rising cost of crude oil.