Falling gas prices easing pressure on condo budgets

By Anthony Ing
Blog image

I hope everyone's enjoying the beautiful spring weather. ☀️🌷🌿🐣

Something else that citizens of Condoland may be enjoying is the reversion of natural gas prices back to more manageable levels. In April, natural gas prices fell back to below 20¢/m³, after a tumultuous year where rates rose to levels not seen in well over a decade.

blog image

While your guess is as good as mine when it comes to predicting where natural gas prices may go from here, Deloitte Canada's Resource Evaluation and Advisor group predicts that prices will remain lower through most of 2023 due to high storage levels and increased production

This is welcome news since this could help to ease budgets for condos across Ontario, which saw natural gas budgets increase by 20% in aggregate last year by our estimates!

Shameless business plug time! I know that many of our clients know Condonexus as a electronic proxy voting and hosted virtual meeting provider, though what some may not realize is that we also provide an electronic budget distribution solution. Reach out to your favourite account manager if you ever need help with your electronic budget distribution!