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Ontario Energy Board lessening the blow of natural gas hikes

Enbridge planned to hike prices by 40% after the coldest winter on record in 37 years...

The Ontario Energy Board is giving us a little break when it comes to the hit on our natural gas bills.

It's out today with an announcement that because of the long, cold, nasty weather we had this winter, it will extend the period that most residential customers will have to pay Enbridge Gas Distribution.

Enbridge had announced during the winter that because of the coldest winter on record in 37 years in this province, they would be forced to hike their rates charged for gas, by 40%.

That worked out to about 400 dollars a year on the average bill.

But the OEB says instead of the standard 12 months, Enbridge will be able to recover their costs over a 27 month period.

The bad news is that your bill is still going up on July 1st, if you are a customer of Enbridge. However, the board says that by spreading the impact of the rate increase over an extended time period, that will lessen the impact you'll feel on your bill.

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