(File photo/paNOW News)

By Derek Craddock

SASKENERGY

Sask. Review Panel approves increase to SaskEnergy rates

Oct 13, 2021 | 12:20 PM

Your heating bill is about to go up after a review panel approved a rate increase proposal from SaskEnergy.

Last month, SaskEnergy proposed the rate increase for natural gas they said would help them recover the higher forward costs of gas from Nov. 1, 2021, to Oct. 31, 2023. SaskEnergy buys natural gas on the open market and passes on the cost of natural gas to customers at the same price it pays to suppliers, including all expenses. The cost of providing natural gas this coming year is forecasted to be higher than the current rate of 9.98 cents per cubic metre.

In a release, the Panel said this two year period will help reduce financial pressures on SaskEnergy customers and provide greater rate stability.

How will that look on your next energy bill? The Panel said the impact will depend on the specific customer and how much they use.

On average, residential customers could see an increase of $74 per year; small commercial customers $361; and large commercial customers $4,713.

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Since April 2019, the rate for natural gas for residential users has sat at 9.98 cents per cubic metre, or $2.57 per gigajoule (GJ). That rate has fluctuated in the last 20 years, being as high as 31.95 cents per cubic metre in November 2008.

However, delivery charges and basic monthly charges have seen steady increases in that same time frame. The monthly charge sits at $23.20 with the delivery charge at 9.93 cents per cubic metre.

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Derek.craddock@pattisonmedia.com

On Twitter: @PA_Craddock