The Gas Cost Recovery Rate (GCRR) stated on customer bills is the price of the natural gas commodity. To help stabilize and improve the predictability of the rate customers pay for natural gas, the GCRR for residential and commercial customers in Rate Class 1 (annual natural gas usage of less than 500 GJs) is set twice per year, in February and August. This biannual GCRR is set based on the forecasted cost of natural gas during the upcoming 6 month period. Any difference between the forecasted and actual natural gas cost is accounted for when rates are set for future periods.
Based on the forecasted cost of natural gas, the GCRR for Rate Class 1 customers for the 6 month period from February 1 to July 31, 2020 was set at $7.35/GJ. However, due to a significant decrease in the cost of natural gas over the past several weeks and lower forecasted costs for the next few months, Heritage Gas has reduced the price of natural gas for Rate Class 1 customers to $6.00/GJ effective from April 1 to July 31, 2020.
Should you have any questions regarding your price of natural gas or bill payment options, please contact our Customer Care Team at (902) 466-2003 or email@example.com.
To learn more about the items on a natural gas bill, including GCRR, please visit the “Understanding Your Bill” section of our website.Back to News