Alberta homeowners feel pinch of high commodity prices as utility bills spike
BNN Bloomberg
Alberta's oil and gas sector is awash with cash and the province's books could be headed back into the black this year, but residents of the province are experiencing the downside of the commodity price boom on their utility bills.
CALGARY - Alberta's oil and gas sector is awash with cash and the province's books could be headed back into the black this year, but residents of the energy-producing province are experiencing the downside of the commodity price boom on their utility bills.
Market prices for natural gas and electricity have surged to near-record highs after more than seven years of depressed prices, and that's leading to some shocks to the wallet for homeowners.
Calgary resident Beverley Hejduk says she lost her normal composure when she opened her January utility bill this week and saw the $1,100 price tag.
“It's outrageous,'' said Hejduk, who lives in an 1,100-square-foot bungalow and says her monthly winter utility bills are typically $400 to $500.
“My first reaction was, 'did I miss paying last month?' And then I looked and no, that's all for just one month.''
Hejduk's experience is not unique, said Consumers' Coalition of Alberta spokesman Jim Wachowich. Homeowners who haven't signed onto a fixed contract for their heating and electricity - instead choosing to pay a floating rate that fluctuates with market prices - are seeing a significant increase in costs this winter.
