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Fortis Inc. Enhances Renewable Energy Integration with New Gas Billing Structure in BC

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Cashu
about 21 hours ago
Cashu TLDR
  • FortisBC will enhance its gas billing structure, increasing Renewable Natural Gas in customer bills to three percent by July 2025.
  • Customers will see a slight cost increase of approximately 2.9% to 3.5%, but existing appliances remain compatible.
  • FortisBC maintains transparent pricing, allowing customers to pay market rates without markups, supporting affordability and sustainability.
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FTS.TO
Fortis Inc
0.31%

FortisBC Implements New Gas Billing Structure to Enhance Renewable Energy Integration

FortisBC Energy Inc. announces a significant update to its gas billing structure, set to take effect on July 1, 2025, after receiving approval from the British Columbia Utilities Commission (BCUC). The company, which serves over one million customers in British Columbia, is poised to increase the proportion of Renewable Natural Gas (RNG) in customer bills from two percent to three percent. This incremental change is part of FortisBC's broader commitment to environmental sustainability while maintaining affordability for its customers. The cost of gas rate will hold steady at $2.230 per gigajoule (GJ), ensuring that customers do not face unexpected fluctuations in their energy bills.

The introduction of a higher RNG blend is expected to result in an overall annual cost increase of approximately 2.9 percent for customers in the Lower Mainland and surrounding areas, and about 3.5 percent for those in Fort Nelson. Despite this increase, customers will not be required to modify their existing appliances, as the blend of RNG is designed to be compatible with current infrastructure. FortisBC's approach underscores its dedication to facilitating the transition to cleaner energy sources while prioritizing customer convenience and energy reliability.

In addition to the billing changes, FortisBC emphasizes that it does not mark up the cost of gas, allowing customers to pay market-based prices influenced by supply, demand, and seasonal weather conditions. This transparency in pricing is further reinforced by the BCUC's quarterly reviews of FortisBC's gas costs and charges, ensuring that rates remain fair and equitable. For those interested in maximizing their use of renewable energy, FortisBC also offers a voluntary program that allows customers to designate up to 100 percent of their gas usage as RNG. The company's proactive measures not only aim to support climate action goals but also provide customers with resources for energy savings and billing assistance through its dedicated customer service.

Commitment to Climate Action and Customer Service

FortisBC operates two liquefied natural gas storage facilities and manages an extensive network of approximately 51,600 kilometers of gas transmission and distribution lines. With a workforce of around 2,143 employees, the company plays a crucial role in the energy landscape of British Columbia while striving to balance the dual objectives of affordability and sustainability. As the energy sector evolves, FortisBC remains committed to supporting its customers through transitions in energy sourcing and consumption practices.

The content provided here is for informational purposes only and should not be considered financial or investment advice. Investing in stocks carries risks, including potential loss of principal. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We are not responsible for any losses or damages resulting from your use of this information.

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