Some consumers could see their bills rise by as much as 300 per cent while others could see minimal increases, but the overall trend is clear, says“In general, Canadians join the global community in seeing exceptionally high electricity and natural gas bills," MacDonald told CTVNews.ca in a phone interview on Friday. "There are a few provinces where some of those increases are muted by the structure of the marketplace, but in general the answer is very high energy bills.
Some of these factors are predictable. Some, like the war in Ukraine, are not. The war reduced the global supply of natural gas, generally driving prices up. It has also reduced Europe's access to the resource. As a result, the U.S. has increased its natural gas exports to Europe, and Canada hasto the U.S., further reducing Canada's supply. Natural gas is currently five times more expensive in Europe than in Canada, MacDonald said, but as our supply drops, that will change.
So international demand for natural gas is rising. As the days become shorter and colder heading into the winter months, domestic demand is rising, too. Heftier energy bills are something Canadians expect each winter, but some years are costlier than others. This winter is shaping up to be a costly one, explains Michelle Leslie, senior manager of infrastructure and capital projects at Deloitte Canada.
Finally, MacDonald explained, natural gas prices tend to rise and fall over years-long cycles as the market overcorrects gaps between supply and demand.the cost of natural gas in Alberta this July was $5.44 per gigajoule . In mid-2008, it peaked at $9.84 before falling again. In late 2005 and early 2001 it temporarily surpassed $11.
How much and how quickly residents' home energy bills reflect these increases will depend on which province or territory they live in. This is because marketplace mechanisms within some provinces and territories act to mitigate or delay increases. Provincial energy retail marketplaces are either regulated or unregulated. Unregulated marketplaces tend to be more volatile, while price changes in regulated retail marketplaces tend to be more controlled.
"Ontario asked Enbridge to take on $527 million in debt to cover the increases, so up until recently, the bills weren’t increasing," he explained. "But now they have to start to recapture debt."
😧sadly we already pay more for fees than electricity used
Bank economists and market analysts keep telling us that Canadians are 'flush' with cash and have strong balance sheets. Let's see how that works out this winter.
ksamgnet1 Net zero this will include zero food zero energy zero life . But look at them trees LMAO
Burn the hydro bills to stay warm I guess. Time to opt out of paperless billing
TruJag policies
Okay... So we're really going for making life as unaffordable as possible now? Mint 👌
Wake up fordnation why are you against climate change and green policy? Why do you cancel renewable energy contracts?
Why?
Great more thing we can not afford
Here is the best nugget: ‘(Energy markets are) in a phase, MacDonald said, where neither its slowing fossil-fuel sector nor its burgeoning renewable sector can meet its energy needs.’ And this ‘phase’ will end…when?
Liberals literally just handed $300 million so another nation can heat their homes this winter…. What about Canadians?!?!
TrudeaMustGo
TrudeauMustGo TrudeauMustGoNow
GillPowell4 No shit. Carbon tax maybe
Bc hydro can’t in BC it’s owned by tax payers and hydro is making profits that should be returned to their share holders
Mine already up 120%. Not even winter yet when the demand comes on. Yet the federal government just gave Ukraine 60/70 million last week to keep the heat and lights on on top of the other billions. You can’t make this stuff up.
All because of JustinTrudeau JustinFlation
Thanks for nothing JustinTrudeau 🤬
Another reason this country sucks
Yikes! But I'm not surprised. Everything is more expensive these days, thanks to that never ending war in Ukraine and the still ongoing COVID nightmare. Food & gas prices have also multiplied significantly.
That's what his tarot cards say?
More accurate photo
Thank your local liberal voters ..
Thanks JustinTrudeau … 😐
We have to stop this. We live in a country rich in natural resources. How much more does the government want to squeeze people out of their hard eating money and livelihood!? They take the money & dump it overseas for PR in the name of donations. Enough is enough!
Coinicarus gonna have to remit funds to your family?
Trudeau’s Canada 😧😔😢[those are the rules: anything bad that happens in a country currently is always the fault of the current sitting leader of said country. Don’t blame me, I didn’t make these rules🤷♂️]
Energy company greed and the conservative premiers that let them get away with it.
I suppose this was Harper’s fault too. liberallogic
Thank you Liberal Trudeau+Freeland!!!!
Thanks JustinTrudeau, theJagmeetSingh and cafreeland
Ridiculous! They want people to freeze to death. Less ppl to take care of.
This is why we should be energy independent and easily could be but the brains in Ottawa couldn’t organize a good shit let alone figure out that every Canadian could be better off but nope doesn’t fit the agenda
I wonder why it would just jump like that? Could it be the inflation coupled by the obscene carbon taxes? Noooooo, no couldn’t be 🙄
Well then, let’s hope that global warming is true, because otherwise people are going to freeze when they can’t pay.
Whose salary increased by 100% this year?
Thanks Justin
Thank you, Trudeau. People in Canada no longer rent a house or apartment. They rent a room to share in a house where every room has been rented out to multiple occupants. Most share kitchen and bathroom space with multiple occupants. It's dreadful
Well turn the heat down, highest I set mine is 17c
This winter is when shiz gets real
BC Hydro is a provincial Crown corporation, owned by the gov't of BC. It generates &delivers electricity to 95% of the population of B.C.&serves over four million people. -Pretty sure our BC gov't is not about to raise our hydro rates by 50% to 100% - or even by 1%.
srduquette3 We need Trump back to restore world order, cut through the corruption, the ClimateChange grift, and end the wars that Biden is promoting. ASAP!
Heard this a few months ago planning for a cold $$ dark winter for most of Europe, funny how we have the EXACT same expected issues here at home
cause the electricity to power those crappy evs doesnt come from fossil fuels right?
what about the pressure on electricity by forcing us into crappy evs?
all by design ~ the great reset
JustInflation
Entirely due to over reliance on fossil fuels.
🎶 Guv'ment loves me, this I know 🎵 🎵 All the free jabs tell me so 🎶 🎶 I can't afford asswipe, gas or food 🎵 🎵 But questioning the science makes me rude 🎶
Switch to electric
You know what, it’s time I apply on walfer me and 4 kids. Let the government pay for everything since it’s not worth working anymore. Pple who are on it are making more than me so
Price gouging
Carbon tax, the gift that keeps on giving. Thank you Justin and the Liberals!
Duhhhhhh Daft;k you think was gonna happen under our current Govt
Did you know in Calgary ENMAX is owned by the cityofcalgary so basically JyotiGondek doing 🤷🏻♂️
Not exactly sure where the money will come from cause we are all struggling to keep up with all the increases. Shame on all of you for taxing us to death then asking for more
Yeah ok CTV
23° is way to hot!
It's worth the sacrifice folks. That's how we fight climate change, Putin, patriarchy, colonialism, truckers and bouncing castles.
Why It’s electric
Thanks Trudeau 👎👎👎
TrudeauMustGo
Luckily nothing else has spiked ... oh wait ...
If we begin mass deporting foreigners with criminal convictions, we can alleviate some of the demand. We should start there.
Thank you Justin Trudeau. Shivering through winter is soooooooo chic right now!!!!
Trudeau says to wear a sweater. 👍🏻
Keep voting liberal!!!!!
Gran737 Thank the Trudeau NDP Liberals for the hike in prices.
But rebates
And how much of that is going to be pure additional fees outside of actual use. Fees already make up more than the usage as is. Utility Bills have already doubled in the last 2 years, now it's just getting ridiculous for something that is a necessity
Need nuclear power. We needed them 10 years ago. Corrupt / Greedy governments and companies created this mess we are in.
Rental building are lowering the heat already
That’s ridiculous who’s going to be able to afford that
MarvinMilton2 “Then there's the federal carbon tax, which applies to both natural gas and electricity generated using combustible fuel. Putting a price on carbon pollution is widely recognized as the most efficient method to reduce greenhouse gas emissions and drive innovation,.”Well,you tried
I don't know about everyone else but my actual usage costs for power and gas only accounts for around 15% of my total bill. Taxes and distribution costs account for the other 85%. My last bill I only paid like $26 for gas and power usage but my bill was $280 !
I will just burn my neighbors house down to stay warm 🤪
ryck_nancy But isn’t Skippy making life my affordable for Canadians? That’s what he claims. We need heat. It’s gets -40 here. The govt is ruining our lives one day at a time and it needs to stop
Happy Carbon Incentive Rebate Day! Whoooo Hooooo! Take out Chinese Food and a couple of 24’s.
Unless you vote out the Ndp/liberals and their carbon tax climatehoax climatescam
More windmills =higher bills. Not hard to figure out. Even for liberals.