Liberty Receives Approval to Adjust Natural Gas Rates
Liberty received approval from the New Brunswick Energy and Utilities Board (EUB) to adjust distribution rates and charges for all Liberty customer rate classes, effective January 1, 2025. The adjustments result in a decrease in the total cost of natural gas for all customers compared to 2023 rates. Total cost is made up of the cost of the natural gas supply (also referred to as the Commodity Charge), the cost of distribution, and the Federal Carbon Charge. The adjustments to distribution rates and charges took effect January 1, 2025, and will be in place until the 2025 rates are approved by the EUB.
The EUB also approved Liberty’s proposal for a Weather Normalization Adjustment (WNA) for the Small General Service (SGS) Rate Class, starting February 1, 2025. WNA mitigates the impact abnormal weather has on gas consumption.
Total Annual Cost of Natural Gas:
2023 Current Rates vs. Approved 2024 Rates*
|
Customer Profile (Annual GJs) |
2023 Total Cost (CA$) |
2024 Total Cost (CA$) |
% Change |
|
|---|---|---|---|---|
| Small General Service (SGS) | 66 | 1,838.39 | 1,718.44 | -6.52 |
| Mid General Service (MGS) | 408 | 9,968.62 | 9,118.52 | -8.53 |
| Large General Service (LGS) | 4,247 | 89,739.39 | 80,931.77 | -9.81 |
| Contract General Service (CGS) | 10,941 | 206,958.17 | 183,492.92 | -11.18 |
| Industrial Contract General Service (ICGS) | 179,873 | 2,876,344.57 | 2,507,302.68 | -12.83 |
| Off-Peak Service (OPS) | 1,126 | N/A | N/A | N/A |
*Based on the approved 2023/2024 distribution rates/charges and the average actual/forecasted Liberty Utility Gas (LUG) price in 2023 of $10.04/GJ and in 2024 of $7.18/GJ.
The actual impact on customers’ total annual costs will depend on how much natural gas is consumed and the actual cost of natural gas supply. For example: a typical residential customer who buys their gas supply from Liberty (Liberty Utility Gas) and uses 66 GJ per year for heat and hot water may see a total annual bill decrease of 6.52% compared to 2023 rates. That is approximately $120 over the course of the year.
Commercial customers can expect a decrease in the total cost of natural gas compared to 2023 as a result of adjustments to the distribution rates and the lower forecasted price of natural gas supply. Depending on their rate class, typical commercial customers may see decreases in their total annual bills of 8.53-12.83%.
All adjustments to distribution rates and charges for all rate classes are reviewed and approved by the EUB through an open and transparent regulatory process.
For more information and a complete breakdown of the approved 2024 distribution rates and charges for all rate classes, please click here.
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.