The Ontario Energy Board has given Enbridge approval for changes in the rates customers pay for natural gas.
As of October 1st 2020 the price for Enbridge Gas rates bills will be going up.
Why are rates increasing in October?
It was a tough year for families, businesses and the economy. This economic downturn, coupled with an unusually warm winter, led to historically low natural gas prices in early 2020. As the economy recovers and demand for natural gas increases heading into the coming winter, market prices are rising.
The cost of natural gas remains relatively low
While the proposed increase in rates may seem high compared to earlier this year, this is because costs were at record lows. A typical residential customer will see an increase of about $5 to $10 on their monthly natural gas bill, depending on where they live, starting Oct. 1, 2020.
The Ontario Energy Board has launched the COVID-19 Energy Assistance Program (CEAP) to help customers pay down energy bill debt incurred since COVID 19 began.
Enbridge gives rebates to homeowners for energy saving upgrades. This is specifically for gas saving retrofits. Mostly because they can assume that over the next decade or 2 homes will use less gas. That will translate to Enbridge having to purchase and store less gas. And that reduces the total cost to manage Natural Gas.
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average mid/low efficiency furnaces have 60%-80% annual fuel utilization efficiency. Meaning for every dollar of gas spent only 60-80 cents is actually used. This paired with a standard PSC blower motor can significantly increase the price to heat your home. A new High Efficiency 96% 2-stage furnace with an ECM DC blower uses an average of 67% less electricity. If your home has a mid efficiency furnace you can be spending on average $300-$700 more a year on heating your home compared to having a high efficient model.
Another step to lower your energy usage is to lower your indoor temperature. Installing a flow through humidifier can help reduce energy by making your home feel warmer, and allowing you to turn your thermostat down in the winter. As well as healthier climate for your family to combat dryness and spreading viruses.