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Vice President Leaves SaskEnergy To Enter New Oil Exploration Business
Aug 30, 2007
SaskEnergy requests commodity rate decrease in advance of winter heating season
SaskEnergy has filed an application with the Saskatchewan Rate Review Panel (SRRP) for a new November 1, 2007 commodity rate of $6.93/Gigajoule (GJ), reflective of lower natural gas costs in advance of the winter heating season. If approved, this would represent a commodity rate decrease of 2.3 per cent from the current rate of $7.17/GJ, with the average residential customer paying $26 less in annual gas costs.
The corporation normally adjusts its rates at the beginning of the gas year in November. SaskEnergy's current commodity rate of $7.17/GJ has been in effect since November 1, 2006.
"Each year SaskEnergy purchases natural gas during the summer months to place into storage facilities for use during the coldest Saskatchewan winter days. This year the cost of gas in storage and the projected price of winter gas have resulted in a rate reduction application," said Doug Kelln, President and Chief Executive Officer, SaskEnergy. "Our use of storage and price management strategies has allowed Saskatchewan consumers to enjoy some of the lowest commodity rates in the country, despite on-going volatility in the natural gas market."
A projected surplus also exists in the Gas Cost Variance Account (GCVA), which helps support the reduction application. The GCVA tracks the difference between what SaskEnergy pays for customers' natural gas on the open market versus the commodity rate it charges.
SaskEnergy encourages energy conservation and offers homeowners of all incomes ways to reduce energy consumption and save money. To find out more please visit
www.saskenergy.com or call toll free 1-866-409-9770.