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FortisBC to drop natural gas prices for most B.C. customers in 2020

Natural gas rates are going down in 2020.
Natural gas rates are going down in 2020. OJO Images / Rex Features

While it seems the cost of living in B.C. is always on the rise, at least one commodity will get cheaper next year.

FortisBC says it’s been given regulatory approval to drop the price of natural gas for most B.C. residential customers in 2020.

READ MORE: Call before you dig, urges Fortis B.C., after nearly 100 broken natural gas lines in Kelowna

The company said while the wholesale cost of gas hasn’t changed, storage and transportation costs have dropped.

“Last winter, significantly reduced pipeline transportation capacity impacted natural gas supply in the region and led to increased storage and transport rates for FortisBC’s customers in 2019,” said the company in a media release.

Pipeline explosion near Prince George could impact Fortis customers
Pipeline explosion near Prince George could impact Fortis customers

“With regional pipeline transportation capacity returning to more normalized levels this winter, customers will see a decrease to the storage and transport rate on their bills for 2020.”

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READ MORE: Vancouver, FortisBC ink deal to reclaim natural gas from landfill

The company says the changes should result in about $18 in annual savings for residential customers on the mainland and Vancouver Island.

However, Fort Nelson customers are expected to see bills climb by six per cent, or about $49.

Revelstoke propane customers are also expected to see bills climb by 12 per cent, or about $99.