The fixed rate protects you as a consumer and has no penalty to get out of.
The 5 year fixed rate means that enmax cannot charge you more than the fixed rate you agreed to for 5 years. You however have the option to cancel that contract at anytime if prices were to drop. Enmax's contracts are some of the fairest in structure out there. They only protect you and not Enmax.
I am floating for gas but locked in electricity years ago a 7 cents a kwh. Right now the current price is 7.8 cents so I am saving money right now. I'm not sure how historically overtime I am doing but right now it makes sense. Currently I think you can lock in an 8 cents a kwh so you would pay a little more than the regulated rate right now but be protected against hikes to the price for 5 years.
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