“STAY STRONG”
Not too much new to report, as COVID-19 continues to hold electricity demand lower in Alberta. May electricity rates settled at around 3.3 cents per kWh for the month. June and July forward rates suggest those months’ will be coming in at around 4 cents per kWh and 5 cents per kWh, respectively. The shorter-term forward electricity market has dropped a little due to impact of COVID-19 and lower electricity demand expectations.
WE RECOMMEND:
- Gas Only: get onto Direct Energy REGULATED Services. DERS. This is the default, no retailer rate.
- Electricity Only:
- Here are the best fixed rate options:
- ATCOenergy has moved their rate up to 6.29 cents/kWh. Rates stable for 3 years. $6.99/month admin. Free termination. $25 anniversary credit.
- Encor by EPCOR has a 6.29 cents/kWh option. Rates stable for up to 5 years. $7.00/month admin. Free termination.
- EasyMax by Enmax has a 6.29 cents/kWh option. Rates stable for up to 1 year. $7.10/month admin. Free termination.
- Direct Energy has a “one month free electricity” promotion. Fixed rate has jumped to 7.39 cents per kWh, but August 2020 would be at 0 cents per kWh. Rates stable for 2 years. $12/month admin (ouch!! Could be a bit much for low use residents). Free termination
- Best floating rate option
- Best option is ENRG Power, as their floating rate is spot plus 0.22 cents/kWh. Monthly admin fee of $5.90/month.
- Here are the best fixed rate options:
AT MY HOUSE
I’m on the ATCO “Three for All” offer. This expired offer has me paying 3 cents per kWh for electricity and $3/GJ for gas from January 2019 until December 2021. Since I use about 9,000 kWh/yr, the 3.3 cent per kWh savings compared to other fixed rate offers, should lead to a savings of about $297 per year. On the gas side, I use about 100 GJ per year, and the fixed rate of $3/GJ is likely about $1.50/GJ more than I might have to pay if I stuck with DERS… but that only leads to an extra cost of $150 per year. So it would appear the Three for All offer would save me about $150 per year, and lock in my rates. If something way better were to come along, I could still terminate by paying $100/$50 (depending when I terminate, in 2020 or 2021).
NATURAL GAS
ELECTRICITY
COMMERCIAL USERS
And for those of you who are not residential users, and maybe a bit bigger, give us a call. We are seeing even better pricing for commercial users so get in touch and we can help.