The amalgamation of FortisBC and Terasen Gas will mean lower prices for Coast customers in the long run, the companies announced last week.
On Feb. 27, the BC Utilities Commission decided that amalgamating Terasen Gas Holdings Inc., FortisBC Energy Inc. and their operations on Vancouver Island and in Whistler would be "beneficial and in the public interest."
The commission also approved a common rate structure for customers.
"Under a common rate structure each customer will be charged the same rate, regardless of where they live," said Neal Proban, manager of corporate communications for FortisBC. "This provides significant benefits to a sizeable portion of our customers, notably on Vancouver Island, the Sunshine Coast, Powell River and Whistler. Some of these customers will see decreases of approximately 25 per cent phased in over three years."
After meeting all necessary approvals, FortisBC will amalgamate the various natural gas entities into one legal entity named FortisBC Energy Inc.
"The utilities have operated under a common management structure since the mid-2000s," a press release from FortisBC said. "The change would eliminate rate discrepancies across the majority of the service territory, and would be phased in over a three-year period."
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