Manitobans to pay $28 less per year on natural gas bills starting August 1 | CBC News

Manitobans who receive their natural gas supply from Centra Gas will be pleased to know that their yearly invoice will be reduced by $28 due to a decline in market prices.

Residential Customers To Pay 3.7% Less, Confirms Utilities Board

, 2023 at 5:35PM Eastern Daylight Time · Posted on: July 25th, 2023 at 5:35PM EDT | Last Updated: July 25th, 2023

Manitobans who rely on Centra Gas for their natural gas supply can rejoice as their yearly expenses are reducing by $28, thanks to the recent decline in market rates.

According to a press release from the Public Utilities Board, the price of natural gas will decrease from approximately 15 cents per cubic meter to roughly 13 cents per cubic meter.

The reduction will be implemented from August 1st onwards.

The board of directors also agreed to lower the deferral rate for commodity costs from 0.67 cents to 0.51 cents.

According to the press release, the modifications will result in a reduction of approximately 3.7% in Centra Gas bills starting from May 1, leading to a decrease of around $28 per annum for the average household consumer.

These changes do not apply to customers who have agreed to specific duration or set-price agreements, whether with Centra or an individual broker.

According to the board, Centra Gas operates in Manitoba by pricing gas based on covering its costs, ensuring that it doesn't generate any profits from selling it.

Additional content from CBC Manitoba: In today's blog post, we will be delving deeper into the recent events occurring in our beloved province.