Quote:
Originally Posted by DoubleF
With some of these rebates and whatnot, does anyone know whether there was a major difference between locking in vs floating from Q1 this year?
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The rebates have no bearing on whether locking in or staying on the regulated rate resulted in a major difference: you get the rebate either way. That said, I did the math in February:
Quote:
Originally Posted by timun
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My last electricity bill covered November 19 to December 17, 2021, and was $53.27. I have a contract for $0.0669/kWh in retail energy charges.
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On the Regulated Rate Option (RRO) my bill would have been $63.31, or about 19% higher, with overall per-kWh costs of $0.1805/kWh. And it would be even higher this past month; the RRO in January was $0.15876/kWh, plus a $0.0468/day rider charge. In February the RRO is $0.1652/kWh (plus the per-day charge).
For anyone who's still on the RRO: GO CHANGE YOUR PLAN RIGHT NOW. You're getting reamed on energy charges; if you're with Enmax you can switch over to a $0.0749/kWh 5-year contract, which you can actually switch out of at will over the five years if the rates consistently drop.
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Five-year fixed deal from Enmax at the time was 7.49¢/kWh; now it's 9.29¢/kWh.
The Regulated Rate so far this year:
January = 15.876¢/kWh
February = 16.520¢/kWh
March = 10.580¢/kWh
April = 10.316¢/kWh
May = 9.971¢/kWh
June = 11.840¢/kWh
July =14.777¢/kWh
August = 17.341¢/kWh
In point of fact it hasn't been less than the 9.29¢/kWh fixed rate on offer right now since June last year (6.782¢/kWh), and was less than the 7.49¢/kWh fixed price offered in February only twice last year (the aforementioned June, and March (7.335¢/kWh)).
There is no reason to be riding the floating rates, it saves you
nothing. Not taking a fixed-rate deal is just a question of how badly you get burned by comparison.
For me, the math works out that I've saved $88.43 in energy charges since the beginning of the year (my last billing date was about a month ago, I don't have an August bill capturing my usage from mid-June to mid-July yet). February in particular was $33.71 in savings, it being the highest regulated rate coinciding with the highest month of consumption for me.
That said, my average monthly usage (answering CroFlames's question above) is a relatively paltry 192 kWh, with a peak of 343 kWh in my February billing cycle. My last bill was a scant 117 kWh (~1000 sq ft house, live alone, work from the office), costing me only $7.83 in energy charges and a total of $41.77. Since the beginning of the year I've paid a collective total of $370.98 for 1343 kWh. I anticipate with the $50/mo. rebates kicking in my electricity bills will be
credits for the rest of the year.
