Natural gas rate adjusted downward for May

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According to the city, the revised rates approved by the AUC are meant to lower the rate to a level that better represents the forecast market prices for May 2022. The change represents a deviation to the industry-established deferral mechanism.

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The city says Direct Energy and Apex gas commodity rates are designed to include what is known as a “true-up” of over- or under-collected amounts from the previous month. Large variances from higher-than-expected price and load going into April 2022 caused a large opening balance in their respective deferral accounts. To reduce the effect of this increase on consumers, the deferral balances will be carried forward and applied to future rate filings.