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Home heating costs could spike 30% this winter
In June, the Ontario Energy Board approved a 20 per cent increase in natural gas for companies like Enbridge.
From grocery costs to car loans, inflation is drastically affecting Canadians and their wallets, but another high price tag is likely on the way.
Home heating costs will spike as much as 30 per cent, tied to the price of natural gas, which, as many drivers know, has steadily risen in 2022.
Why Natural Gas Rates Fluctuate
Natural gas rates can be affected by a multitude of factors which affect the supply and demand for the resource on the market.
Price fluctuations in natural gas prices are due to changes in the supply and demand of the resource. As supply and demand changes, the price changes accordingly to bring natural gas back to its equilibrium price. A price equilibrium is the price at which supply and demand are equal and the market’s needs are met. These changes in supply and demand affect your natural gas rates so it’s best to understand exactly what causes these price fluctuations.
Understanding Ontario Natural Gas Rates
Ontario natural gas rates are regulated to give consumers the benefit of a stable and fair price for their natural gas usage.
In Ontario there are three regulated natural gas providers, these being: Union Gas, Enbridge Gas, and Natural Resource Gas. Consumers in Ontario are able to choose whether they would like to have their natural gas provided to them at a competitive rate through a retailer or from their local utility. Though there are only three regulated natural gas providers, there are many competitive retailers to choose from. The Ontario Energy Board (OEB) are who regulate the Ontario natural gas rates. The OEB has developed a code of conduct for gas retailers which provide consumers with a level of protection on the energy market. They also determine the cost associated with transmitting, storing, and delivering the natural gas. The price of natural gas is affected by a variety of factors and it can change based on the time of year, the market, weather patterns, major weather events, etc.
Reduce your Carbon Footprint with LED Lights
Our actions have an impact on the environment whether we like it or not, but doing a good deed for the planet can be as easy as switching to LED lights in your home.
We all know that as human beings, the choices we make have a huge impact on the future of our planet and the future generations that will inhabit it. For this reason, we should all have a level of responsibility for our personal impact on the world. Technological advancements have given us the option to choose environmentally friendly products that reduce our carbon footprint. A small but impactful change that you can make in your home to help the environment is to switch to LED lights.
Spring Energy Saving Tips
There are many ways to use your appliances less and save more money during the spring using simple energy saving tips.
As the weather warms up your home will as well while your appliances work hard to keep you cool. There are many small adjustments you can make to your home and to your daily habits to save on energy and money. An energy audit is a great way to find where the most improvement can be made, but it isn`t always necessary. Some common sense and simple energy saving tips you can find online will often do the trick. Here are some of the easiest ways for you to save money on energy this spring season.
What is my Monthly Energy Usage?
Calculating your home’s monthly energy usage is easy, all you need is some information about your electronic devices and a bit of basic mathematics.
All of the electronic devices in your home, no matter how big or small, add up and amount to the dollar value you find on your monthly utility bill. You might be interested in knowing how you get to that number. Being aware of what the main contributors to your utility bill are is a great step in cutting down on your energy usage. Luckily, calculating this is quite simple. Using the steps listed below you’ll know your monthly energy usage for each device.
Enbridge Gas and Union Gas to Amalgamate
Effective January 1, 2019, Enbridge Gas Distribution Inc. and Union Gas Limited amalgamated to form one single utility, Enbridge Gas Inc.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) announced it will move forward with the amalgamation of its Ontario based utilities, Enbridge Gas Distribution Inc. (Enbridge Gas Distribution) and Union Gas Limited (Union Gas), with an expected effective date of January 1, 2019.
This decision follows a detailed review of the parameters of the regulatory approval received from the Ontario Energy Board on August 30, 2018, and the approvals of the board of directors of each of Enbridge, Enbridge Gas Distribution and Union Gas.
Making Your Home Energy Efficient
Making your home energy efficient can be done at a low cost with some simple DIY methods.
You would think that it’s an expensive process to improve your home’s energy efficiency, but it doesn’t have to be. A full home renovation isn’t necessary to save some money in the long run. There are other simpler ways to become energy efficient. If you’re willing to change some of your habits and use some DIY methods you can create a more comfortable environment in your home and save yourself some money.
Here are some things you can do to make your home energy efficient:
How to read Gas Meter
Reading your natural gas meter is one way to tell how much natural gas you’re using each month.
Regardless of who you buy your natural gas from in Ontario, your local gas utility company is responsible for reading your meter. It is good to know how to read your gas meter, as you will be able to determine whether or not you’re being accurately billed. If you notice an error, you can notify your gas distributor a few days before the next bill is due to be generated, and have it adjusted accordingly.
Did you know proper sealing saves energy?
Caulking and Sealing Saves Energy – weatherstripping and caulking helps to keep heat and air conditioned air where it should be – in your home!
Constantly heating and cooling your home will not do much if your home has air leaking right out of it due to gaps between framing and door frames and other gaps in the house. Proper sealing saves energy because it is used to seal those gaps around moving and still parts in your home such as windows, doors, plumbing and more. Expanding foam caulk can fill gaps between doors and frames and non expending insulating foam can be used on things like baseboard, ceiling and tiles.
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