When prices are too low, gas producers are forced to cut costs due to lower revenues. When that happens, there’s less natural gas exploration and less gas being produced. Canada and the U.S. are also shipping out their natural gas all over the world, with exports rising 1200% in the past few years. So as our supply reserves get depleted and demand goes up, then gas prices will soon follow. Or, when companies struggle with other challenges, like COVID-19, and can no longer afford to drill for oil, then by-products such as natural gas often see their prices rise.
Gas prices are extremely volatile and can increase dramatically without warning as we’ve seen in the past.
OWE is the only gas retailer to offer a Cancel Anytime Program* (for consumers who use less than 50,000 m³ per year). This means that if you are not completely satisfied with the rate you are paying, simply let Ontario Wholesale Energy know and they will cancel your program with no hidden costs or fees.
*With 90 days’ written notice.
Speak with one of our Energy Specialists today to find out more about our Cancel Anytime “Peace of Mind” gas program.