New Brunswick energy customers told to brace for high natural gas prices

The Canadian Press 0

SAINT JOHN, N.B. – The New Brunswick Energy and Utilities Board is warning natural gas customers to prepare for high prices this month and possibly next.

The board says natural gas prices reached record levels last month because of high prices in the New England market.

It says the high prices are the result of demand in New England, where pipeline capacity is limiting the supply, driving up costs throughout the region.

While there are plans to expand pipeline capacity to New England, that work will not be completed by next winter.

The board says customers of Enbridge Gas New Brunswick (TSX:ENB) can expect their costs to likely remain at existing levels for a number of months, while prices historically decline for customers of other companies in March.

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