Medicine Hat News
The cost of natural gas will double in Medicine Hat this month as the industry prepares for colder temperatures and higher use, while electricity rates back off slightly from October prices.
New rates published by the City of Medicine Hat’s utility department state natural gas in November will cost $2.285 per gigajoule, up from $1.1288 last month. Power price drops to 6.385-cents per kilowatt hour, marking a decrease of two-10ths of a cent.
Medicine Hat bases its commodity prices on the average of regulated rate offerings in the province by private distribution company. Those firms in turn base their prices on market forecasts, which are generally low in summer months when demand is low and supply is high and typically rise as inventory becomes tighter heading in to winter.
The high and low rates for gas in Alberta for November at $2.369 and $2.201, offered by Direct Energy and AltaGas Utilities, respectively.
For power, the high commodity regulated rate is from Direct Energy at 6.876, though a provincial cap on rates sets price for those customers at 6.8 cents. The low power price is 6.134-cents from Epcor’s rural service.
