Milder winter, 'healthy' supply, sparks cut in Enbridge prices

NEWS RELEASE
ENBRIDGE GAS
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A warmer-than-normal winter season combined with healthy inventory levels have contributed to a market price decrease. On March 23, Enbridge Gas received approval from the Ontario Energy Board to lower natural gas prices effective April 1, 2023.

Depending on the location of residential Enbridge Gas customers, this means an annual household’s bill will decrease by $162 to $192 per year (12 per cent). Following a reduction in January of $63 to $142 per year (9 per cent). For customers enrolled in the equal monthly payment plan, Enbridge Gas reviews customer plans on an ongoing basis, and adjusts monthly payments as needed to avoid large end-of-plan true-ups.

Natural gas is a commodity traded on North American stock exchanges. Enbridge Gas buys the amount needed and passes those costs through to customers without markup — the prices are reviewed and adjusted every three months to reflect market changes.

The natural gas market is fully integrated across North America; therefore, the prices customers pay in Canada are broadly influenced. During 2022, market prices increased significantly due to the conflict in Ukraine which saw an increased demand for North American natural gas moving offshore to Europe, combined with a colder-than-average winter.

Visit enbridgegas.com/gas-rates-notice for information on gas prices, conservation tips and rebates that can lower your energy use and payment plans that make budgeting easier.
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