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Home My WebLink AboutINS-11-023 - Natural Gas RatesREPORT TO:Finance and Corporate Services Committee DATE OF MEETING: March 21, 2011 SUBMITTED BY: Pauline Houston, Deputy CAO, 2646 PREPARED BY: Loraine Baillargeon, Manager Asset Optimization, 2532 WARD(S) INVOLVED: All DATE OF REPORT: March 16, 2011 REPORT NO.: INS-11-023 SUBJECT: Natural Gas Rates RECOMMENDATION: That the supply component of the natural gas rates be decreased to 21.2 cents per cubic meter from 25.0 cents per cubic meter for system gas customers of the City of Kitchener effective April 1, 2011; and, That the transportation component of the natural gas rate remain at 6.182 cents per cubic meter; and That the delivery components of the natural gas rates be changed as proposed in INS-11- 023 - Appendix A for all Kitchener delivery customers effective April 1, 2011 BACKGROUND: Kitchener Utilities began a gas supply program in April 1998 to arrange supply for Utilities’ customers who did not choose to buy from a gas marketer. The program was initiated with the goals of mitigating the impact of the natural gas price volatility and eliminating retroactive billing that had become common place with our past provider. Our system gas program uses a disciplined economic approach to secure natural gas contracts in a portfolio to strive for a low risk, reasonable cost alternative to the current retail offerings. The supply program is a cost-based service and does not cross-subsidize with other Utilities profits. Since the beginning of the supply program, we have been able to meet our customers’ need for stable, more predictable prices. We continue to mitigate the risk of price volatility through active management of the portfolio. REPORT: Gas rates are changed, at least annually, driven by various events. The gas rates have three components, Gas Supply, Gas Transportation and Gas Delivery. î ó ï “Gas Supply rate” is the charge for the natural gas commodity, fuel and administration. The Gas Supply rate is determined based on our committed purchases, forecast consumption, overhead and inventory carryover. The total dollar value is divided by the forecast consumption to determine the rate needed to recover the costs. The budget will be affected in that the budget rate is higher than the proposed rate. Lower market prices have permitted this reduction. “Gas Transportation rate” is the rate charged to bring gas to the Ontario border via pipeline. The historical practice has been to establish the transportation component of our natural gas rates by using the National Energy Board (“NEB”) approved rate for TransCanada Pipelines (“TCPL”) tolls. The NEB approved increased interim rates effective March 1, 2011. There is some uncertainty around the level and trend of the TCPL rate. A negotiated settlement with its customers could yield a substantial decrease in the rate by July 2011. As Kitchener Utilities does not anticipate changing local rates until the fall, it is recommended that the Gas Transportation rate not be changed at this time. A negotiated settlement with TCPL by July would return the rate to almost the same rate as is currently being charged by Kitchener Utilities. The 2011 budget was determined using the current rate; therefore no impact on budget is expected (except for variances in consumption from forecast). “Gas Delivery rate(s)” are the rates charged for delivering gas within Ontario to the customer’s meter. This includes transmission within Ontario (pipeline border to Kitchener, storage costs), pipeline infrastructure and maintenance (within Kitchener), meter reading and bill processing. For Delivery rates, the City’s past practice has been to match the base Delivery rates approved by the Ontario Energy Board (“OEB”) for use by Union Gas in the Southern delivery area. The OEB approved the final rates application as submitted and approved for the Union South delivery area for implementation January 1, 2011. With respect to the Gas Delivery charges, there are two components, a daily fixed charge and a variable rate that is charged for the actual or estimated volumes consumed in a particular billing period. Over the past several years, the variable rate has been decreasing and the fixed charge increasing. This shift is done to better match the recovery of fixed costs to provide delivery service to utility customers by fixed customer charges. The shift is revenue neutral, in total, to the Utility. The budget may be impacted by consumption variances from forecast only as the proposed rates were used in preparing the budget. ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN: Theme: Financial Management Strategic Direction: -Invest and manage assets strategically; -Ensure responsible use of public funds within a supportive policy framework; -Maximize value through cost effective service delivery î ó î FINANCIAL IMPLICATIONS: The combined impacts of the supply and delivery rates are expected to produce a decrease of 7% or approximately $75 per year for the average residential customer. Inestimations for Rate Category M1 customers, we use a 2100 m3 annual consumption as an average residential customer consumption. Rate M2 customers (commercial/industrial) can expect to see an overall decrease of approximately 12%. The impact on large volume and contract customers will depend upon their consumption and contract demand parameters. COMMUNICATIONS: The Utilities Division will work with the Communications Division to ensure that media are provided with a media release to inform our customers, an insert is being prepared to be distributed with utility bills in April, and an alert will be printed on the envelopes regarding rate changes. ACKNOWLEDGED BY: Pauline Houston, Deputy CAO , Infrastructure Services Department î ó í ûìì÷îøóäû ùíêìíêûèóíîíöèô÷ùóèãíöñóèùô÷î÷ê îûèçêûðõûé õ÷î÷êûðé÷êæóù÷êûè÷ï ûÌÌÐÓÙÛÚÓÐÓÈÃ èÍÊ×ÉÓØ×ÎÈÓÛÐÛÎØÎÍÎÙÍÎÈÊÛÙÈÙÍÏÏ×ÊÙÓÛÐÛÎØÓÎØÇÉÈÊÓÛÐÙÇÉÈÍÏ×ÊÉÈÔÛÈÙÍÎÉÇÏ×Ð×ÉÉÈÔÛÎ Ï Ã×ÛÊ êÛÈ× øÛÓÐÃöÓÄ×ØùÔÛÊÕ× ÛÎØ æûêóûúð÷ùíïïíøóèãèêûîéìíêèûèóíîî÷èêûè÷ ø÷ðóæ÷êãöç÷ð êûè÷ ? Ï? Ï? Ï? 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