Natural Gas Rate Rises Approved

The Ontario Energy Board has approved a request from Enbridge Gas to increase its rate by almost 40%.

The hike takes effect on an interim basis on April 1, 2014, the same day Union Gas rates will increase 28%.

The new charge for Enbridge customers will add about $400 to an average annual bill of $1,000.

Enbridge applied to the province’s energy regulator for the increase on the basis that a colder than usual winter depleted its stocks and it had to buy more gas at higher prices. Gas rates are reviewed four times per year.