VANCOUVER, British Columbia, May 24, 2019 (GLOBE NEWSWIRE) -- By Order G-112-19, the British Columbia Utilities Commission (BCUC) has established a regulatory timetable for its inquiry into the price of gasoline and diesel in British Columbia (Inquiry).
The Terms of Reference have been outlined in Order in Council (OIC) No. 254, issued on May 21, 2019.
Per the Terms of Reference, established by the BC Government, the Inquiry will explore factors that may be influencing gasoline and diesel prices in BC since 2015, including:
- the differences, if any, in refining and retail margins;
- factors that contribute to both retail and wholesale price fluctuations such as access to refineries, the amount of fuel in storage, refinery and pipeline capacity, market size and demand, distribution methods and seasonal variations;
- how competition impacts pricing; and
- what other jurisdictions are doing to enhance transparency in how gasoline and diesel prices are determined.
The BCUC has also been requested to explore mechanisms the province could use to moderate price fluctuations and increases.
The BCUC will conduct a fair, transparent and independent review and will be providing advice to Government in its final report due on August 30, 2019. Due to the scope of this Inquiry, as well as the limited timeframe for the BCUC to prepare a report, intervener registration will be limited to those who are actively involved in the gasoline or diesel industry such as refiners, transportation and storage companies, wholesalers, distributors, marketers, retailers, government and regulators. Intervener registration will close on Thursday, June 13, 2019.
Members of the public who wish to participate can do so by submitting a letter of comment online on any of the subject matter outlined in the Terms of Reference included in OIC No. 254. Letters of comment allow any member of the public to contribute views, opinions, and thoughts regarding impact or potential impact, with respect to a matter before the BCUC, to the public record. The deadline to submit a letter of comment is Thursday, August 8, 2019.
For more information on this application, please see the proceeding page here.
Background
On May 21, 2019, the Lieutenant Governor in Council, pursuant to section 5(1) of the Utilities Commission Act (UCA), requested the British Columbia Utilities Commission (BCUC) provide advice to Government on the price of wholesale and retail gasoline and diesel in British Columbia. The Terms of Reference for the inquiry have been outlined in Order in Council (OIC) No. 254. The BCUC established an inquiry process on May 24, 2019 by Order G-112-19.
Findings from the BCUC’s inquiry will be shared with Government in a report due by August 30, 2019.
About the BCUC
The BCUC is a regulatory agency responsible for oversight of energy utilities and compulsory auto insurance in British Columbia. It is the BCUC’s role to balance the interests of customers with the interests of the businesses it regulates. The BCUC carries out fair and transparent reviews of matters within its jurisdiction and considers public input where public interest is impacted.
CONTACT INFORMATION:
Krissy Van Loon
Manager, Communications
Phone: 604.660.4727
Email: Krissy.VanLoon@bcuc.com