The price of natural gas is set to increase in Ontario starting July 1, the Ontario Energy Board (OEB) says.
The OEB said Thursday that has approved Enbridge Gas Inc.’s June 3 application to increase the rate due to shortages in North American natural gas supplies and “uncertainty in the global energy landscape.”
OEB also warned that the price increase won’t fall anytime soon for the province.
“The International Energy Agency (IEA) is warning of continued significant upward pressure on prices beyond this quarter, and production in North America has not been able to keep up with demand, while storage levels across North America remained below the 5-year average,” the OEB said in a release….