If you are a natural gas user in New Brunswick, your bill may soon become lower.

Liberty Utility has filed a general rate application with the Energy and Utilities Board, the province’s energy regulator.

While the company is seeking to increase distribution rates for residential and commercial customers, natural gas prices are forecast to be lower.

If approved, residential customers could see an average decrease of nearly 10 per cent, while commercial users could see their bills drop by as much as 17 per cent.

“The actual impact on customers’ total annual costs will depend on how much natural gas is consumed and the price of natural gas supply,” Liberty said in a news release.

The average current/forecast Liberty Utility gas price is $10.04 per gigajoule in 2023. It is anticipated to drop to $7.18 in 2024, according to the company.

Officials said a typical residential customer who used 66 gigajoules per year for heat and hot water would see their annual bill drop by around $162.

If approved by the provincial regulator, the new rates would take effect on Sept. 1.