The Province has released terms of reference that will guide the British Columbia Utilities Commission’s investigation into what is driving the high gas prices in the province.
The BCUC has been asked to examine the market factors that affect wholesale and retail prices in the province, to investigate price fluctuations, and explain the difference in refining margins between British Columbia and the rest of Canada.
The Commission will also try to come up with an explanation for the difference in retail margins between B.C. and the rest of Canada and review the potential of regulatory measures used in other jurisdictions across Canada and North America to enhance transparency about how prices are determined.
A final report is expected to be delivered by the end of August.