Summary
This 8-K filing from Enbridge Inc. (ENB) on July 2, 2015, primarily announces that Enbridge Gas Distribution has received approval from the Ontario Energy Board (OEB) for new natural gas rates, effective July 1, 2015. The approved rates will lead to a modest increase for typical residential customers, estimated at about one percent or $8 annually, bringing the total bill to approximately $942. This increase includes a one-time rate adjustment charge for the difference between interim and final approved rates, which will be spread across July, August, and September bills.
Key Highlights
- 1Enbridge Gas Distribution received OEB approval for new natural gas rates effective July 1, 2015.
- 2Typical residential customers will see an approximate 1% bill increase, totaling around $8 per year.
- 3The total annual bill for a typical residential customer is projected to be about $942.
- 4A one-time rate adjustment charge of approximately $9 will be applied to bills in July, August, and September.
- 5Enbridge emphasizes that natural gas remains the most economical heating choice in Ontario, costing over 60% less than electricity and oil over the past five years.
- 6The company highlighted customer programs for managing energy costs, including the Home Winterproofing Program and payment arrangement options.
Frequently Asked Questions
The main purpose of this 8-K filing is to report that Enbridge Gas Distribution has received approval from the Ontario Energy Board (OEB) for new natural gas rates that went into effect on July 1, 2015. It also includes information on the impact of these rates on customers and Enbridge's position on natural gas affordability.
For a typical residential customer who buys their gas supply from Enbridge, the total bill is expected to increase by about one percent, or approximately $8 per year. This brings the estimated annual bill to about $942. Additionally, a one-time charge of around $9 will be added to your bills in July, August, and September to cover the difference between interim and final approved rates.
Yes, according to Enbridge, natural gas continues to be the most economical choice for home and water heating in Ontario. The company states that over the past five years, natural gas has been, on average, more than 60 percent less expensive than electricity and oil. They also note that the typical customer's total annual bill is still lower than it was 10 years ago.
Enbridge offers several programs and options for customers facing difficulties with their energy bills. These include the Home Winterproofing Program for eligible low-income customers to improve home energy efficiency, the ability to set up payment arrangements by calling Enbridge directly, and various energy efficiency tips available on their website. Customers can also access personalized energy consumption information through the 'myEnbridge' online portal.