I hate Direct Energy! (Rant)

[habernac]

"What are you, my financial adviser? Get outta here!"

[Bobblehead]

I saw a TV report a few days ago about how Ont. is investigating Direct Energy's door-to-door tactics and promises. They did not come off looking very good. Of course there was hidden camera footage, and the managers were shocked (SHOCKED!) at what the representatives were saying.

[anyonebutedmonton]

This is nothing... Anyone ever encountered "Alberta Energy Savings"? My oh so cute but gullable girlfriend had a nice visit from them a while back. Their tactics include:

1. Telling her they were with the government
2. Saying she was the last one on the block to get signed up
3. Explaining that it was an initiative to protect Albertan citizens from the rising price of gas in the winter.

Now I know part of the blame was on her but they had her sign up at like 13/GJ for 3 years with a buyout of like $700 or something crazy like that. Fortunately She has a nice boyfriend who likes to argue and I got her out of it because this seriously would have cost her a fortune.

I can only imagine how many suckers these guys conned. The best part is they are just a billing company and don't really deal with the gas at all. I figure they lock in a contract with Enmax or Direct at a lower rate and just take a cut.

[Red]

Originally Posted by Bobblehead

I saw a TV report a few days ago about how Ont. is investigating Direct Energy's door-to-door tactics and promises. They did not come off looking very good. Of course there was hidden camera footage, and the managers were shocked (SHOCKED!) at what the representatives were saying.

Here's the link. It was on Marketplace

http://www.cbc.ca/marketplace/2009/p...sion/main.html

[Tower]

Start a coalition for wind power from your backyard!!!

[Cowboy89]

When these clowns come to my door I like to get all Natural Gas Fundamentals on them:

Direct Energy Guy: Sir, do you know you can lock in now for an extra low cost of 8.00/GJ?

Me: But Natural Gas is more like $3.30/GJ at AECO right now. Why would I want to pay you double to triple for gas?

Direct Energy Guy: Sir, Natural Gas prices are always fluctuating and tend to go up all the time. After the recession prices will spike, if you lock in now you can be protected when the prices spike above $10.00/GJ.

Me: At no point on the futures strip pricing curve for the next 18 months does the price ever even come within $2.00/GJ of your "low rate" of $8.00/GJ. With North American domestic production increasing due to fit for purpose horizontal drilling rigs in shale plays and LNG overhangs abroad, how do you figure prices will get above $8.00/GJ anytime soon? Furthermore, strip pricing is lower than your offered 'low rate' so even if I did believe prices were about to skyrocket, there are better ways of hedging my heating costs.

Direct Energy Guy: I'm sorry, but why would you want me to strip?

I got locked in a couple years ago at 8.44 which is pretty decent. It probably balances out in the long run at that rate.

[Jedi Ninja]

A few weeks back, a young woman came by our house asking for the person responsible for the bills. Right away I said "I'm not interested in any rate plans. Thanks." She kept pushing, asking to see my bill, etc.. I repeated the same thing 3 times and finally said "I'm too busy for this, goodbye!" And shut the door.

Around 9:00PM, someone practically pounds on the door. It's her again. "Do you have time NOW?" she says. She is practically bristling. Launches right away into her routine about how everyone on my block has signed up, how I'm stupid to not want to save money, etc.. I can barely restrain myself from telling her to just FO. "Listen, lady, you've totally crossed the line. I've told you I have no interest, and I've been polite. Goodbye!"


Where do these people come from? Do they have personality disorders? Are they mental?

[Shazam]

Originally Posted by Bent Wookie

I got locked in a couple years ago at 8.44 which is pretty decent. It probably balances out in the long run at that rate.

Um, no.

[socktape]

Originally Posted by Cowboy89

When these clowns come to my door I like to get all Natural Gas Fundamentals on them:

Direct Energy Guy: Sir, do you know you can lock in now for an extra low cost of 8.00/GJ?

Me: But Natural Gas is more like $3.30/GJ at AECO right now. Why would I want to pay you double to triple for gas?

Direct Energy Guy: Sir, Natural Gas prices are always fluctuating and tend to go up all the time. After the recession prices will spike, if you lock in now you can be protected when the prices spike above $10.00/GJ.

Me: At no point on the futures strip pricing curve for the next 18 months does the price ever even come within $2.00/GJ of your "low rate" of $8.00/GJ. With North American domestic production increasing due to fit for purpose horizontal drilling rigs in shale plays and LNG overhangs abroad, how do you figure prices will get above $8.00/GJ anytime soon? Furthermore, strip pricing is lower than your offered 'low rate' so even if I did believe prices were about to skyrocket, there are better ways of hedging my heating costs.

Direct Energy Guy: I'm sorry, but why would you want me to strip?

I like to do this one as well..... but you would have said it better.

[anyonebutedmonton]

Originally Posted by Jedi Ninja

Around 9:00PM, someone practically pounds on the door. It's her again. "Do you have time NOW?" she says. She is practically bristling. Launches right away into her routine about how everyone on my block has signed up, how I'm stupid to not want to save money, etc.. I can barely restrain myself from telling her to just FO. "Listen, lady, you've totally crossed the line. I've told you I have no interest, and I've been polite. Goodbye!"

I can honestly say if I ever get one of these people at my door I will tell them to get off my property and I will be holding a baseball bat. At no time would I ever actually intend to use the bat but I think its presence will scare them away.

[CaptainCrunch]

Originally Posted by Jedi Ninja

A few weeks back, a young woman came by our house asking for the person responsible for the bills. Right away I said "I'm not interested in any rate plans. Thanks." She kept pushing, asking to see my bill, etc.. I repeated the same thing 3 times and finally said "I'm too busy for this, goodbye!" And shut the door.

Around 9:00PM, someone practically pounds on the door. It's her again. "Do you have time NOW?" she says. She is practically bristling. Launches right away into her routine about how everyone on my block has signed up, how I'm stupid to not want to save money, etc.. I can barely restrain myself from telling her to just FO. "Listen, lady, you've totally crossed the line. I've told you I have no interest, and I've been polite. Goodbye!"


Where do these people come from? Do they have personality disorders? Are they mental?

did she have big cans?

Was she willing to trade?

[Frequitude]

Easymax for the win.

[Shazam]

Originally Posted by fotze

I dunno, its 3.57 now and there is prevailing thought that it will be lower with staying flat as an upside. I know one financial house was trying to get a company they were funding to hedge at $3 since they believed the price would go to $1.

Yup. I read an article that said NG could go down to 1 CENT!

[Cowboy89]

Originally Posted by fotze

I dunno, its 3.57 now and there is prevailing thought that it will be lower with staying flat as an upside. I know one financial house was trying to get a company they were funding to hedge at $3 since they believed the price would go to $1.

Just reading the sites I never realized my field provides the yearly gas supply for 100,000 average households in one day of production. There is just too much gas supply right now.

and now I am going to change to enmax with their floating rate option, good work Direct, you actually had a negative sales call.

Another thing too. It's not like Direct Energy really wants to save you money. The price they will offer you a fixed rate at won't even be close to the current seasonally adjusted yearly average futures price, meaning that all things being equal you're paying them a premium in order to pay a fixed price. Bottom line, if you're the type of person that can handle a few extra hundred dollars the odd winter where prices spike then long term there's no rational reason to enter a fixed-rate contract.

[ken0042]

Originally Posted by fotze

Actually I am now mad since I am with Direct and they are sending these douchbags.

Is Enmax cheaper? Anyone go with them?

Yes, it is.

Long story short, last fall I got a D/E bill that makes all my previous Bell errors look like nothing. I switched.

Most costs are the same, but the admin fee is lower for some reason. Add to that the Easymax thingy; it's nice to have that $100 coming to you at some point.

[Cowboy89]

Originally Posted by fotze

What I am trying to figure out is why the regulated rate is higher than the market rate some months and lower on others, and why the floating rate has a 47 cent per GJ fee attached to it.

I'm far more familiar with the upstream side of the business than midstream and distribution. That being said I know that the utilities have regulated rates of return and that has to do with the per GJ fee you pay, and there is gas storage costs too(In the US "FERC" is the government regulator, not entirely sure about Canada). Also there is a lag between the price you pay and the quoted price of natural gas in the month in question because the quoted price is usually the one-month forward contract and there is sometimes big differences between the spot and the one-month, especially in shoulder seasons between summer and winter. I'm sure someone works for Enbridge,TransCanada, TransAlta, Epcor, BP, or Enmax who could explain the household pricing better.

[You Need a Thneed]

Originally Posted by anyonebutedmonton

This is nothing... Anyone ever encountered "Alberta Energy Savings"? My oh so cute but gullable girlfriend had a nice visit from them a while back. Their tactics include:

1. Telling her they were with the government
2. Saying she was the last one on the block to get signed up
3. Explaining that it was an initiative to protect Albertan citizens from the rising price of gas in the winter.

Now I know part of the blame was on her but they had her sign up at like 13/GJ for 3 years with a buyout of like $700 or something crazy like that. Fortunately She has a nice boyfriend who likes to argue and I got her out of it because this seriously would have cost her a fortune.

I can only imagine how many suckers these guys conned. The best part is they are just a billing company and don't really deal with the gas at all. I figure they lock in a contract with Enmax or Direct at a lower rate and just take a cut.

I had them show up at my door one time too - saying the exact same things. The person was pretty good, and actually had me thinking this was a required thing for a while.

Until I looked at their fixed rate for electricity. The fixed rate was 12 cents per kWh. I don't think I've ever even seen a floating rate that high around here. I told them "I'd think about it."

But, whenever they come around to your door, realize one thing. They would never send people out door to door if it didn't make the company more money (meaning you pay more) in the long run. Period. If the numbers came back to the company showing that it was roughly the same for the customer either way, they might still offer the option, but there's no way they would ever waste money sending people door to door. Usually I tell whoever comes to the door this fact.

Back to "Alberta Energy Savings", someone should report those people and the scam they've got going.

[FlamesKickAss]

Originally Posted by Frequitude

Easymax for the easy win.

fixed for you

[metal_geek]

I loved when these dudes came to my door.. I'd say..
"Look, I don't care what your fixed rate is, I'm paying enmax for my utilities. The city of Calgary take a hefty sum outta enmax each year, so the way I see it, if I pay your company my money, the city is gonna make less from enmax and increase my property taxes to make up the difference. So when you can lower my property taxes on your contract come back and see me"...