For Immediate Release
2002-10-28
For further information contact:
Ken Mundell, Rate Analyst, Utilities Kingston, 546-1181 ext. 2247
GAS RATE INCREASE ANNOUNCED
Utilities Kingston announced today that the commodity price of natural gas will increase to $0.1975 per cubic metre effective Nov 01, 2002.
The current commodity price of natural gas is $0.1875. This will increase the cost of gas for the average household by approximately $31.00 per year.
According to Ken Mundell, Rate Analyst at Utilities Kingston, this price increase is due to the increased cost of gas on both the daily spot market and the longer term fixed price contracts.
Utilities Kingston does not profit from gas cost increases. "Natural gas utilities pass the price they pay for natural gas directly to their customers, with no markup", adds Mr. Mundell.
Even after this rate increase, natural gas is far and away the most cost-effective fuel alternative. As part of the solution to climate change, natural gas is clearly also the best environmental choice. The efficient and effective use of natural gas will further reduce greenhouse gas emissions.
Consumers are encouraged to visit the Utilities Kingston website at www.utilitieskingston.com to look for examples of energy saving tips on how they can still save money on their gas bill.
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