About 32 Loonies More: British Columbian regulators approved a propane price hike.
US propane customers aren’t the only ones getting pinched by rising prices this heating season. On Monday, the Canadian company Terasen Gas got approval on a rate hike that would bump up a typical residential bill CAD$32 (just less than $32 dollars here), the Vancouver Sun reports.
Terasen serves the province of British Columbia. And unlike the propane trade on this side of the border, its rates are regulated by the British Columbia Utilities Commission (BCUC). The price hike goes into effect on Jan. 1.
The company’s propane projections look like this: If a customer’s bill was CAD$1,031 last year, it will be up 3 percent to $1,063 this year. Prices in the States are up more like 11 percent, according to government numbers.
“Propane prices, which are closely linked to global oil markets, have continued to increase in the last quarter,” Terasen noted tersely in a press release.
Meantime, the company adjusted its rates for natural gas customers down, citing strong production and storage levels, and lowered demand from the US.