The cost of the average annual propane bill in Revelstoke will be going down by more than a quarter, FortisBC announced this week.
“As part of our quarterly commodity rate review with the BCUC (B.C. Utilities Commission), piped propane customers in Revelstoke are going to see a noticeable decrease on the commodity portion of their bills,” said Cynthia Des Brisay, vice president of energy supply and resource development FortisBC. “This is largely due to lower crude prices and increased supplies of propane in North America. Since propane is extracted from crude oil and processed from natural gas, the price of propane is impacted by these energy commodities – particularly the cost of crude oil.”
The price of propane will decrease by $6.521 per gigajoule. This means that the average residential customer who uses aout 50 GJ per year of piped propane will see their bills go down by about $326 per year – a 28 per cent decrease, according to FortisBC.
FortisBC and BCUC review propane rates every three months to make sure the rates are passed on to consumers. Weather, supply and demand, and the state of the economy all affect propane rates.
