My Enmax plan expires in a couple of weeks, but I will admit to not knowing a heck of a lot about utility markets. And, from what I understand, the UCP followed through and removed the cap of 6.8 cents on consumer electricity rates.
So I am faced with a couple of options - stay on floating rate, but without the shield of the 6.8 cent cap. Or lock in for 1 year (5.89 cents), 3 years (6.29), or 5 years (6.59).
It looks like the rates have been at the cap of 6.8 for 11 of the past 23 months. The unknown, however, is how high would those rates have been without the cap.
It isn't life or death, as Enmax lets you lock in and unlock easily and frequently. With winter coming, I think that it might be prudent to lock in at 6.29 cents and see what happens, because even 6.29 would be below the rate of all but two of the last 12 months (March and April 2019).
Also, as mentioned in this thread, my actual usage makes up a small part of my bill anyway, after all of the fees and riders. I try my best to be energy efficient, but even if I cut my usage in half, my bill wouldn't be dramatically different.
So what is everyone else doing, in light of the consumer cap being removed? Wait and see? Lock in? I have traditionally stayed on a floating rate because any hit I take over the winter is recouped in the summer, and I think that I come out ahead. But that was with the protection of the consumer cap.
And, if this post wasn't long enough: natural gas seems like the floating rate is still the way to go, unless there are any regulatory/market changes coming. Thoughts?
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