Overview
- The provincial government confirmed errors in its natural gas revenue forecasts that overstated receipts by about $1.46 billion across five fiscal years.
- The largest mistake came from an Energy Ministry spreadsheet where a currency‑conversion formula was applied incorrectly, and officials say the errors have been independently verified.
- Fixing the spreadsheet reduces the 2026‑27 forecast gas price by 44 cents per gigajoule and cuts average annual expected revenues by about $292 million through 2030.
- For the current fiscal year the revisions lower forecasted gas revenue by roughly $306 million, a drop the Energy Ministry says is about 24 percent of its prior estimate.
- Officials plan to publish corrected numbers in the quarterly fiscal report later this month, and the update could change the province’s previously reported $7.7‑billion deficit while prompting improvements to forecasting quality controls.