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The price of natural gas can be impacted by extreme weather and changes in supply and demand.
The below video explains how Kitchener Utilities sets their natural gas rates.
During winter 2014, we asked our customers if they preferred variable or stable rates. Thank you to all our customers that completed the online and telephone surveys your time and input were much appreciated. The finance and corporate services committee received the results on Monday, April 28, 2014.
Staff asked for direction from council on how to proceed with their natural gas purchasing policy. Council had three options to consider: phasing-out fixed price purchases to rely solely on market pricing; modifying the current hedging approach; or maintain the current hedging approach.
Council directed staff to focus the policy around the option to modify the current hedging approach to a three year time frame, and reduced the amount of natural gas purchased at fixed prices.