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TransGas Expanding Natural Gas Storage Service at Landis
August 11, 2008
SaskEnergy provides Commodity Market Update to Rate Review Panel
SaskEnergy announced today it has provided
the Saskatchewan Rate Review Panel (SRRP) with a market update, which included
a revised natural gas commodity rate of $8.71/Gigajoule (GJ) (32.71¢/m3).
The SRRP requested a market update as it
considers SaskEnergy's application for a new October 1, 2008
On July 16, 2008,
SaskEnergy announced it had applied for a commodity rate of $10.21/GJ (38.33¢/m3),
as part of a combined commodity/delivery rate application to the SRRP. The second part of the application, which
deals with a proposed change to delivery costs of $2/month to the Basic Monthly
Charge to take effect November 1, 2008, remains
unchanged by this update.
With this revised commodity rate, which is
a pass-through of market costs without markup, the proposed changes would see
the typical residential customer now paying on average $21/month more for their
natural gas service this winter, instead of $35/month as indicated in the
"Natural gas prices
for next winter have moved down considerably from the time SaskEnergy prepared its
commodity rate application earlier this summer," said Doug Kelln, President and
Chief Executive Officer, SaskEnergy. "SaskEnergy's
gas price management strategy has allowed the lower market pricing to be
reflected in the revised rate for customers, while continuing to provide some
protection against higher pricing during the upcoming winter.
"While the commodity
market remains volatile, this substantial change necessitated a revised commodity
rate when the Panel asked for a market update. This allows the Panel to have the most current information prior to
bringing forward its recommendations to Government. This change would
represent an overall total bill increase of 24% for the average residential
customer," Kelln said.
SaskEnergy has also
just announced two more energy efficiency programs to help customers become
more energy efficient. The ENERGY STAR®
Prime Rate Loan Program and a $15 Programmable Thermostat Rebate are available
as of August 1, 2008 and will continue through until March 31, 2009. These
programs are designed to help customers make changes in their homes to minimize
the effects of rising natural gas prices.
These two initiatives will be added to the existing energy efficiency programs offered by SaskEnergy
and the Province of Saskatchewan.
To find out more please visit www.saskenergy.com
or call toll free 1-800-567-8899.