On November 17, 2015, Sun Peaks Utilities applied to the BC Utilities Commission who granted a Gas Commodity Rate Decrease of 11% effective January 1, 2016. You will see this change on your February 2016 invoice.
Over the last few years, the cost of propane had reached historic highs. In predicting forward prices, sometimes the market doesn’t follow the experts’ projections. In reality, we have experienced lower market prices such that the Gas Cost Reconciliation Account (GCRA), Commodity account continues to fall faster than previously expected.
Therefore, SPUCL believed that it was in our Customer’s best interest to apply to the BCUC for a decrease in the Total Gas Commodity Charge to $11.6250 from $13.0660 per gigajoule (-11%). These changes are made up of two factors. Gas Commodity Charge – Propane increasing from $8.6620 to $9.3000 per Gigajoule and the Gas Commodity Charge – GCRA decreasing from $2.0790 to $0.00 per Gigajoule.
For more information, click on the “Gas” tab and then on the “Gas Tariff and Rates” tab.