Natural gas going up to more than $4 this month
By Medicine Hat News on March 2, 2021.
Natural gas prices will rise in March to make up a colder than expected February, while power prices in Medicine Hat will fall. New rates, published Monday, show gas rising to $4.09 per gigajoule, up $1.16 from February, while power rates drop one and a half cents to 7.33-cents per kilowatt hour. That comes after colder weather through Alberta last month and most of North America sent gas prices sharply higher. Gas providers based their monthly default price on forward price forecast at the beginning of the month, but often adjust prices up or down in subsequent months to make up the difference when actual prices are higher or lower than predicted. The City of Medicine Hat doesn’t technically use a “true-up” calculation in its rate adjustments; it sets the local rate at the average of default prices offered across the province, which do include a cost recovery mechanism. For March, comparable gas rates are $4.073 from Apex (formerly AltaGas) and $4.102 from Direct Energy. The low rate for power is 7.13 cents from Direct, while the high rate is 7.48 cents from Epcor in the Edmonton region. Tax notice delay Property tax assessment notices that are typically sent at the end of February each year will be delayed until mid-April, the city has announced. That comes after Alberta Municipal Affairs allowed an extension so cities could delay the notice, which includes calculations of property’s state and value at the mid-point and end of 2020. Accounts in all classes are expected to receive their assessments for the current year by April 22 after they are mailed at April 14. Property owners will still have a 60-day deadline from that date to appeal assessments. Assessment value is used as one-half the calculation to determine tax bills. The mill rate, set by council in April, is charged against the assessment to determine the final amount owning. Late last year city council passed budget amendments, including up to $14 million in spending cuts that administrators say will negate the need for a tax increase in 2021 as well as keep taxes at 2019 levels overall. Tax will be due on June 30 this year. 16-15
