natuarl gas meter (winter)If you’re a natural gas customer get ready for a price drop.

Union Gas says it has applied to the Ontario Energy Board for a decrease in rates, that if approved, would go into effect on April 1.

Depending on location, the rate decrease could lead to $120 to $168 in annual savings for customers.

Overall, customers across Ontario can expect an 11 to 20 per cent decrease in their annual natural gas bill.

In a release, Union Gas President Steve Baker says “These rate changes reflect a decrease in the market prices we expect to pay for natural gas over the next year,”

He goes on to say “Natural gas continues to be the most affordable energy source for space and water heating and costs significantly less than electricity, fuel oil or propane.”

Natural gas prices have declined dramatically in the past five years due to the discovery of plentiful new supplies, and are lower today than they were 10 years ago.

Although weather-related fluctuations such as those experienced last winter can occur, long-term forecasts suggest that natural gas will continue to be the most economical source of energy for homes and business.

In addition to lower natural gas prices, Union Gas can help customers realize even greater savings by improving the energy efficiency of their homes. For energy-saving advice, rebates and promotions visit uniongas.com/residential/save-money-energy.