No relief in sight for home heating bills

Heating costs in New Brunswick this winter have hit record levels for all fuels and indications are things may not be any better next winter.

High prices likely to continue next winter due to high cost of natural gas

High home heating costs will likely persist next winter 1:52

Heating costs in New Brunswick this winter have hit record levels for all fuels and indications are things may not be any better next winter.

Energy consultant Jan Sorenson says record natural gas prices this winter have shocked energy markets and those markets have already raised futures prices for next winter.

"I see no reason why prices next winter won't be much different than this current one," said Sorenson.

Neil Larlee of NB Power (CBC)
While most New Brunswickers heat their homes by means other than natural gas, NB Power is impacted by higher natural gas prices.

"There is a negative impact to the finances of the company because of the high natural gas prices," said Neil Larlee of NB Power.

Every increase of 10 cents in the price of natural gas costs NB Power $1-million. Next winter's natural gas prices are already several dollars higher than they were this year, making it difficult for the Crown corporation to meet its financial targets and keep rates low.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.