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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (922)11/14/1996 6:17:00 AM
From: Kerm Yerman   of 24925
 
CANADIAN OILPATCH / GAS IN ALBERTA

November 14, 1996
RED HOT SAVINGS

ÿ Bad news for Western Canadian gas producers will put extra cash in the pockets of thousands of Calgarians this winter.
ÿ While gas producers continue to suffer from weak prices because of a lack of pipeline capacity to lucrative U.S. markets, Calgarians are reaping the benefits of that capacity shortfall.
ÿ A recent survey by Canadian Western Natural Gas Co. Ltd. (CWNG) found its customers in Calgary and Lethbridge pay less for natural gas service than any other major centre in the country.
ÿ Bill Arthur, CWNG's vice-president of marketing, said it's no fluke its 350,000 residential customers in southern Alberta enjoy lower rates than consumers elsewhere.
ÿ That's because Alberta is the biggest producer of natural gas in the country, so CWNG's pipeline transportation costs are lower than other utilities.
ÿ Add the fact Alberta gas fetches substantially lower prices than in other North American markets due to a shipping bottleneck and you have what amounts to a bargain for consumers, said Arthur.
ÿ He noted Canadian Western has received a vote of confidence from consumers since regulatory changes took effect Nov. 1 allowing commercial and residential customers to buy gas through brokers, rather than CWNG.
ÿ He said only a "very small number" of large institutional customers like hospitals have opted to purchase directly.
ÿ The Alberta Energy Utilities Board earlier this month approved a winter residential rate -- from Nov. 1 to March 31 -- of $1.374 per gigajoule of gas, up 6.6 cents.
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