Commodities
B.C. Government Admits Errors in Natural Gas Revenue Forecasts
The British Columbia government has acknowledged errors in its natural gas revenue forecasts worth $1.46 billion over five fiscal years.
The forecasted price of natural gas was overstated by 44 cents per gigajoule this year, and the most significant error was caused by incorrectly applying a formula to convert U.S.-Canadian dollar prices.
Energy Minister Adrian Dix stated that the errors were 'a serious mistake' but did not affect actual revenues, which can fluctuate due to price changes like those linked to Russia's invasion of Ukraine.