![]() ![]() Natural gas is currently five times more expensive in Europe than in Canada, MacDonald said, but as our supply drops, that will change. has increased its natural gas exports to Europe, and Canada has increased its exports to the U.S., further reducing Canada's supply. It has also reduced Europe's access to the resource. The war reduced the global supply of natural gas, generally driving prices up. Right now, MacDonald said, natural gas prices are being driven upward by a combination of geopolitical strife in Europe, the global transition to renewable energy, seasonal demand, the federal carbon tax and the cyclical fluctuation of gas prices over roughly 20-year periods as supply and demand try to meet and overcorrect. The rest use heat pumps, stoves and other heating systems. A smaller proportion – 29 per cent – use electric baseboard and radiant heating systems. Most of what will drive up the cost of home energy this winter is the rising price of natural gas, which generates 8.5 per cent of Canada's electricity.Īccording to Statistics Canada, most Canadians – 61 per cent – use traditionally gas-powered systems, such as furnaces and boilers, to heat their homes. "There are a few provinces where some of those increases are muted by the structure of the marketplace, but in general the answer is very high energy bills." “In general, Canadians join the global community in seeing exceptionally high electricity and natural gas bills," MacDonald told CTVNews.ca in a phone interview on Friday. Some consumers could see their bills rise by as much as 300 per cent while others could see minimal increases, but the overall trend is clear, says EnergyRates.ca founder Joel MacDonald. Most Canadians who pay for natural gas or electricity can expect their bills to rise by between 50 and 100 per cent on average this winter, according to one energy analyst.
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