Calgarians expected to dig deeper into their pockets during deep freeze conditions
CTV
A decrease in temperatures is likely leading to an increase in utility and heating bills as Calgarians crank up their thermostats in preparation for another cold snap.
A decrease in temperatures is likely leading to an increase in utility and heating bills as Calgarians crank up their thermostats in preparation for another cold snap.
Energy analysts say those using a natural gas-powered furnace won’t see their rates fall like they did to past lows seen in recent years and some consumers could see their bills spike higher.
The most vulnerable are consumers who are not on fixed rate contracts, who will see their energy rates rise as consumption rises.
“If you think about doubling the cost of the energy component, that's the equivalent of about a 30 per cent increase on your overall bill,” said Jackie Forrest, executive director of the ARC Research Institute in Calgary.
Forrest notes that a number of factors are contributing to higher heating bills including carbon taxes and distribution costs depending on what part of the country consumers live.
“The other big factor in this North American integrated gas market is that a lot more exports of gas are leaving out of the U.S. and that is lifting prices all over North America,” she said.
“Because as there's been a real pull on gas to Europe, who needs the gas, that means there's less gas in North America and all the things the same, so you know, we’re going to see higher prices.”
