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Natural gas rates in Ontario to drop about $48 on Jan. 1

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Enbridge Inc. signage is displayed outside of the company's corporate office in Toronto, Ontario, Canada, on Friday, Oct. 28, 2011. Brent Lewin/Bloomberg via Getty Images

TORONTO – Ontarians who use natural gas to heat their homes and fuel appliances will get a break on the price starting in the new year.

The Ontario Energy Board has approved rate decreases for Enbridge Gas Distribution Inc. and Union Gas Ltd. effective Jan. 1, 2016.

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The board says typical residential customers with Enbridge who use about 2,200 cubic metres of gas per year will see their bills fall by about $43 next year.

READ MORE: New Ontario regulation and fee changes come into effect Jan. 1

Those with Union Gas who use the same amount will see savings ranging from $47.76 in the north to $49.48 in southern Ontario.

About 58 per cent of Ontario households rely on natural gas for heating.

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Mild temperatures across most of eastern Canada and the United States combined with an oversupply have cooled demand for natural gas, sending prices to 14-year lows earlier this month.

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