favour of moving toward a spot rate model, which would see rates rise and fall with the market.
Several members of council spoke in Omega Seamaster Aqua Terra Review
The city does not profit off the sale of natural gas. When KU customers pay more than the market rate, that profit goes to third party suppliers.
"Public engagement is incredibly important, but at the same time this is a representative democracy and this is one of the more complicated issues we've faced," he said.
For the last several years, KU customers have paid more for natural gas than customers of other utilities, like Union Gas. This is because KU purchases a portion of its gas at a fixed rate, whereas Union Gas buys gas using a spot rate model, which reflects the going market rate.
Currently, about 65 per cent of KU's gas is purchased at a fixed rate, with contracts Omega Watches Ladies 2017
expiring in 2016.
of its gas at a fixed rate. If it looks like prices are falling, that number can be as low as 40 per cent, according to Pauline Houston, the city's head of infrastructure services.
The amount of gas KU purchases at a fixed rate fluctuates, depending on five year projections. If it appears rates will go up, KU can buy as much as 90 per cent Omega Seamaster Pink
"The last time that we've gone to our customers I don't think the surveys have been that true or understandable," said Ward 3 Coun. John Gazzola.
City to seek feedback on gas prices
Kitchener residents can choose to purchase their natural gas from a third party supplier, but would still pay delivery charges and other fees which the city does profit from to KU. The city is not allowed Omega Seamaster Professional 300m Quartz to use profits from delivery and other charges to subsidize the cost of gas.
In a previous survey, the majority of customers said they highly valued having a stable gas rate. However, Harald Drewitz, a former accountant, has criticized the survey, saying it was not statistically significant and residents didn't understand how much of a premium they would be paying for that stability.
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