Come April 1, British Columbians could be paying 12% to 14% less on their natural gas bills, if the B.C. Utilities Commission (BCUC) approves a Terasen Gas request to drop rates.
Terasen is asking to drop rates $1.57 per gigajoule Metro Vancouver, the Fraser Valley, the Interior, and the Kootenays. It's also looking to reduce rates in the Fort Nelson area and Revelstoke.
The price decrease would reduce gas bills by between $124 and $202 per year, depending on a household's consumption and location. The rate decline would bring natural gas prices back to 2004 levels.
Prices would not change in Whistler, because Terasen is still waiting for a BCUC decision to adjust rates for 2009 that take into account Whistler's conversion from using propane to natural gas.
Residents on Vancouver Island, the Sunshine Coast and Powell River would not see a change in their rates because they're covered by a separate long-term regulatory structure that insulates residents in that part of the province from fluctuations in the commodities market.