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FortisBC propane customers in Revelstoke to receive rate relief
Oct 5, 2020
SURREY, B.C., October 5, 2020 – FortisBC Energy Inc. (“FortisBC”) has received approval from its regulator, the British Columbia Utilities Commission, for a common commodity portfolio for propane and natural gas customers effective January 1, 2021. This means that Revelstoke customers receiving propane will pay the same commodity cost as the rest of FortisBC’s natural gas customers, outside of Fort Nelson.
This approval means reduced rates and greater stability to the cost of propane for Revelstoke customers as historically, natural gas prices are less volatile than propane prices.
For example, today, customers in Revelstoke are paying $11.722 per gigajoule for the cost of propane; conversely, FortisBC’s customers, outside of Fort Nelson, are paying $2.844 per gigajoule for the cost of natural gas. Various factors including supply and demand, production costs and global oil markets all influence both natural gas and propane prices.
For more information about rates, visit fortisbc.com/rates.