Enmax fixed vs. floating rates...

[Barnes]

I locked in on a new contract a few months ago at $0.09/ KWH. Atco sent me a message in May saying that my contract expires in August and of course I forgot, and my September variable rate was $.35/KWh. $1,000 bill for that month! We ran our air conditioners a lot.

October was $185 lol.

[malcolmk14]

Our electricity usage went way up with Covid, as a result of both of us being home most of the time and my wife working from home. I dug into our bills a little bit the last couple of days and found this:

Total Utilities average (May 2016 to May 2020) - $287.16
Total Utilities average (May 2020 to present) - $374.84

Avg kWh usage (May 2016 to May 2020) - 525
Avg kWh usage (May 2020 to present) - 867

Cost per GJ of natural gas over the past 6 years is interesting as well

2016-17: $10.06/GJ
2017-18: $10.39/GJ
2018-19: $10.60/GJ
2019-20: $10.74/GJ
2020-21: $12.47/GJ (+16.1%)
2021-22: $14.47/GJ (+16.0%)

Water usage went from a consistent 11/12 cubes a month to 15/16 with us being home all the time.

[RedHot25]

Originally Posted by Lil Pedro

Enmax just asked to renew my plan:

Electricity: 5 years, $11.29/kWh (previous was $6.39/kWh)

N. Gas: 5 year, $5.79/GJ (previous was $3.79/GJ)


Pretty steep increase on what I was currently paying, plus my old plan was for 3 years. That said, I do like the convenience of being locked into a rate rather than floating. Not sure what to do. Anyone in a similar situation?

I'd lock in, definitely on electricity. You can always unlock if you will (assuming you are on EasyMax) once per month.

I will be like you, my 5 - 6 cent rate for electricity expires in the spring, sigh, one last cheaper winter of usage, then I'm expecting a 11 to 16 cents lock in.

Natural gas I had been floating for ever, but locked in at the $4/GJ rate a bit ago.


Always worth checking in with Blake Shaffer (U of C prof) on his twitter feed. Not specific advice, but he comments on rates, locking in or not, etc with some frequency - https://twitter.com/bcshaffer .

Speaking of Blake, and this discussion, here's what you pay when on a variable (i.e. not locked in rate):

https://twitter.com/user/status/1597076410367373312

[Nancy]

Does Enmax publish the current variable rate anywhere? (Not talking about the regulated rate, which is easy to find.)

[DoubleK]

Originally Posted by Nancy

Does Enmax publish the current variable rate anywhere? (Not talking about the regulated rate, which is easy to find.)

Enmax doesn't have a variable rate AFAIK.

Your options are the RRO which floats and whatever Enmax is offering on their fixed contracts (which you can exit at anytime).

The best resource for utility rates is: https://ucahelps.alberta.ca/rates.aspx

[RedHot25]

Originally Posted by Nancy

Does Enmax publish the current variable rate anywhere? (Not talking about the regulated rate, which is easy to find.)

https://www.enmax.com/home/electrici...al-gas/easymax

Click the floating rate under each one, and just make sure its south/Calgary first. Although I'm not really sure its an easymax floating rate as DoubleK notes.

[Nancy]

Originally Posted by DoubleK

Enmax doesn't have a variable rate AFAIK.

Your options are the RRO which floats and whatever Enmax is offering on their fixed contracts (which you can exit at anytime).

The best resource for utility rates is: https://ucahelps.alberta.ca/rates.aspx

I'm talking about the floating option if you are on EasyMax.

Originally Posted by RedHot25

https://www.enmax.com/home/electrici...al-gas/easymax

Click the floating rate under each one, and just make sure its south/Calgary first. Although I'm not really sure its an easymax floating rate as DoubleK notes.

See, that link doesn't jive with this person's EasyMax floating bill from August, where they were charged $.34/kwh: https://imgur.com/a/yu0MNx1

Here is the original Reddit thread for the above: https://www.reddit.com/r/Calgary/com...nmax_billhelp/

[DoubleK]

I reserve the right to be wrong, but Easymax floating = RRO. (Regulated Rate Option)

I work for a utility and was on that rate for years.

[RedHot25]

Yes I scanned rro and easymax floating and the charts look the same or at the very least very similar.

[DoubleK]

@Nancy I sent you a PM.

[Wormius]

Originally Posted by Lil Pedro

Enmax just asked to renew my plan:

Electricity: 5 years, $11.29/kWh (previous was $6.39/kWh)

N. Gas: 5 year, $5.79/GJ (previous was $3.79/GJ)


Pretty steep increase on what I was currently paying, plus my old plan was for 3 years. That said, I do like the convenience of being locked into a rate rather than floating. Not sure what to do. Anyone in a similar situation?

I received this letter as well, and I was thinking about it, but there are a few changes, at least for us that make me question whether we should. One thing is locking into the fixed electricity, you are agreeing to a new set of T&Cs which includes changes to the natural gas terms. For ours, our Transaction Fee doubles to $0.99/GJ for natural gas and it can be increased bi-annually by 25% each time, and the same with the Admin charges ($0.28/day) , plus the EasyMax Rewards Dollars are gone. We are pretty consistent about about 450kWh for electricity usage, and 8GJ is worst-case in the winters.

So, my only worry is the new T&Cs will leave us vulnerable to Enmax jacking us their non-consumption other charges. Should I be more worried about varying value of electricity and natural gas, or whether Enmax would increase all of their fees with how the new T&Cs are written.

Wonder if anybody else considered these issues as well and still went with the fixed?

[RedHot25]

You guys get a letter?

I just make any changes on the website. The $0.99 per GJ has been on for a long time now, I thought anyway, what plan are you on? Its always been that on floating that I am aware of, for the last 7 years or so.

I am fixed on gas at 4.09 and fixed on electricity, at 6-something cents per kw. Gas is 5 years (probably 4 or so left), electricity is coming up to expire I believe this fall, so sadly will have to bite the bullet and likely lock in at probably about double my current rate. Sigh.

But all this to say I'm assuming you are on easymax? If so, can't you just change btwn fixed and floating 1/per month? Although no guarantee you will get the same rate as what you switched off of etc.

[Wormius]

We got a letter at some point. My wife just brought it to my attention, so I checked what the deal was.

It would be fine if the only thing that changed was the price of the electricity, but on the website they state that new terms and conditions apply.

I don’t know when the last time we made any changes was, but we’re $0.47/GJ for the Transaction Fee and the current terms are that that will never change, same with Administration fees, and we’d lose the EasyMax rewards. These aren’t really big things, only that there is some uncertainty about whether any of these would be increased in the future, which they imply could.

[RedHot25]

Fair enough.

And you must be on some very - very - old school plan as no rewards here. I don't think rewards have been in existence at all since I joined, about 7 years ago ..

[accord1999]

Originally Posted by Wormius

So, my only worry is the new T&Cs will leave us vulnerable to Enmax jacking us their non-consumption other charges. Should I be more worried about varying value of electricity and natural gas, or whether Enmax would increase all of their fees with how the new T&Cs are written.

Other than the administration fees which can't change too much with competition from the likes of ATCO, those charges should be regulator approved and shouldn't be different between providers or plans.

[Fuzz]

Wormius, I think I'm on the same plan as you. I was able to lock in my electricity while leaving gas floating to maintain all the good stuff(lower transaction fee, Easymax credits). I phoned in when I did it, just to make sure. I think if I lock in gas I lose it, but not sure, so maybe ask about that one for me.

[Wormius]

Originally Posted by Fuzz

Wormius, I think I'm on the same plan as you. I was able to lock in my electricity while leaving gas floating to maintain all the good stuff(lower transaction fee, Easymax credits). I phoned in when I did it, just to make sure. I think if I lock in gas I lose it, but not sure, so maybe ask about that one for me.

Okay. I figure I’ll have to call in then. The website funnels you into the new terms even if all you are doing is switching the floating to fixed on one of the utilities.

[eddly]

https://www.enmax.com/ForYourHomeSit...ity-After.aspx

29.7 for electricity!?!?!?!?!? Thankfully I'm locked in at 6 or so, but my usage doubled month over month. How can people survive on floating electricity rates?

[Ironhorse]

Originally Posted by eddly

https://www.enmax.com/ForYourHomeSit...ity-After.aspx

29.7 for electricity!?!?!?!?!? Thankfully I'm locked in at 6 or so, but my usage doubled month over month. How can people survive on floating electricity rates?

Narrator: They can’t...

[Doctorfever]

Damn. I was paying 28 or so on one place. Other locked in below 7.

Didn’t realize- locked in now.

Thanks CP