NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: ENBRIDGE CONSUMERS GAS
DECEMBER 28, 2001 - 13:38 EST
OEB approves gas price adjustment for Enbridge Consumers
Gas, Decrease will be effective January 1, 2002
TORONTO, ONTARIO--Enbridge Consumers Gas announced today that the
Ontario Energy Board has approved its application to adjust gas
prices effective January 1, 2002. On December 7, the Company
announced that it had applied for the adjustment. For residential
customers who buy their gas from the utility, this will represent
a decrease of seven per cent on the total annual bill for a
typical heating and water heating residential customer, or a total
annual savings of $95.
The cost of the commodity for residential customers who buy their
gas from Enbridge Consumers Gas will be 23.3 cents per cubic
metre, effective January 1, 2002. The new rate is based on a
commodity charge of 18.1 cents per cubic metre and a temporary gas
in storage surcharge of 5.2 cents per cubic metre that is in place
from September 1, 2001 to March 31, 2002.
The delivery charge was also reduced slightly due to lower
commodity-related costs. This is a decrease of about $12 per year
for a typical home and water heating residential customer. The
decrease in the delivery charge applies to customers who buy gas
from gas marketers and customers who buy gas from the utility. The
$12 decrease in delivery charge is included in the $95 total
annual savings for the typical residential customers who buy their
gas from the utility.
Customers who buy their commodity directly from Enbridge Consumers
Gas, a regulated utility, pay the same price the utility pays to
purchase the gas. Rate notices about price changes, including the
gas in storage surcharge, will be sent to customers in their
bills.
Natural gas is a safe, reliable, environmentally friendly and
efficient source of energy for home and water heating needs. More
information about Enbridge Consumers Gas is available at
Enbridge Consumers Gas is a wholly owned subsidiary of Enbridge
Inc. of Calgary. It is Canada's largest natural gas distribution
company and distributes gas to 1.5 million customers in Ontario,
Quebec and New York State; and is developing a gas distribution
system for the province of New Brunswick. Enbridge Inc. is a
leader in energy transportation, distribution and services in
North America and internationally. Enbridge Inc. employs
approximately 6,000 people, primarily in Canada, the U.S. and
South America. Enbridge common shares trade on the Toronto Stock
Exchange in Canada and the New York Stock Exchange in the U. S.
under the symbol "ENB". Information about Enbridge is available
on the Company's web site at www.enbridge.com.