HALIFAX – The cost of using natural gas is about to go up.
The Nova Scotia Utility and Review Board has given Heritage Gas permission to rate rates by more than 19 per cent over the next three years beginning Jan. 1.
The average rate increase will be 8.25 per cent in 2012, six per cent and 2013 and three per cent in 2014.
Heritage Gas appeared before the utility and review board on Oct. 17-18 with the board handing down its decision on Thursday.
In June, company president Jim Bracken said Heritage Gas was not bringing in enough money through gas rates to cover development and operating costs.
He said the company spent about $40 million more than it has recovered from customers through rates.
Heritage Gas was given permission a year ago to raise rates by 6.8 per cent. It had applied for rate relief in situations where revenue growth from new customers wasn’t sufficient to cover increased operating costs.
The company has more than 2,600 customers across the province, including about 350 in Amherst.
