Liberty Files to Adjust Natural Gas Rates to Help Customers Save Money

FREDERICTON, March 24, 2023 - Liberty submitted an application to the New Brunswick Energy and Utilities Board (NBEUB) on Friday, March 3 that includes adjustments to the distribution rates for all customer rate classes in 2023. Pending approval from the NBEUB, Liberty is seeking to implement the adjustments to distribution rates on July 1, 2023.

Liberty is proposing to lower the distribution rates for all commercial customers, which would mean decreases of 3.3% to 17.7% (depending on rate class) in their total cost of natural gas in 2023 as compared to 2022. This takes into account the lower forecast of the cost of commodity in 2023 of $10.65/GJ. Commercial customers can expect to see savings of 39% to 56% (depending on rate class) compared to No. 2 oil and even more if the cost of natural gas supply is lower than forecasted.

Liberty is proposing to increase the residential distribution rate from $10.42 to $10.85, but when taking the lower expected commodity price into account, residential customers would see a decrease of 2.9% in their total cost of natural gas in 2023 as compared to 2022. Residential customers can still expect to see savings compared to electricity – an estimated 12.2% savings and even more if the cost of natural gas supply is lower than forecasted. The actual impact on customers’ total annual costs will depend on how much natural gas is consumed and what the price of natural gas supply will be in 2023. A typical residential customer, for example, who buys their gas supply from Liberty (Liberty Utility Gas) and uses 64 GJ per year for heat and hot water would see a total annual bill decrease of approximately $48.41 over the course of the year, compared to 2022.

With the increased cost of living being felt across our region, Liberty is glad to help New Brunswick residents and business owners save money, through lower energy bills and with the help of incentive programs available to customers interested in switching to natural gas. 

All adjustments to distribution rates and charges for all rate classes are reviewed and approved by the NBEUB. Please visit www.nbeub.ca for more information.

NOTE: Liberty does not earn a profit on the sale of natural gas supply (Liberty Utility Gas). Customers have a choice when it comes to purchasing their natural gas supply. Please visit www.nbeub.ca for more information.