There is yet another approval for a decrease in rates from the Public Utilities Board. This time it's for the Stittco Utilities Man Ltd. (Stittco) propane commodity rate from $1.9618/m3 to $1.8835/m3 for propane consumed on or after August 1, 2022. Propane distribution rates remain unchanged. The board says Propane commodity is sold on a cost recovery basis passed on to customers without markup by Stittco.
The new propane rate contributes to a decrease in the average residential bill of approximately 2.1 per cent or $41 per year when compared to current propane rates that were approved on May 1 of this year. It reports that actual customer impacts will depend on propane consumption. The propane rates will be reviewed again on November 1.
The Board is an impartial tribunal and regulator, arm’s length from the government, which acts in the public interest.