Natural gas rates will go up on July 1

THUNDER BAY — If you use natural gas to run your HVAC system, cook your food and heat your water, be prepared to see your costs go up starting next month.The Ontario Energy Board has approved new rates for Enbridge Gas customers in Northwestern Ontario which reflect increases in market prices for natural gas.

On an annual basis, the changes represent an increase of about $245 a year for the average residential customer.

The company says, however, that it's taken steps to mitigate the impact of the rate hike.

"We understand that energy affordability is a priority for our customers. Working with OEB, we have taken steps to moderate price increases by extending the recovery of these costs over 24 months," Enbridge said in a statement.

The company said this will contain the total bill increase to about $5 a month between July 1 and Sept. 30.

According to Enbridge, the continuing conflict in Ukraine, paired with strong domestic demand and increased global demand for U.S. liquefied natural gas, has resulted in historically high market prices.

It said this trend is expected to continue "for some time."