Enmax fixed vs. floating rates...

[DoubleK]

Looks like floating for electricity is no longer a thing. The government has released the Rate of Last Resort regulations which will replace the Regulated Rate Option and somehow figured out a way to make it worse. The rate will be fixed for two years unless the market price goes out of whack and providers will be eligible for a rate reopener proceeding. Fancy way of saying if the pool price goes up, they will apply to jack these rates until the end of the term and maybe the price goes down in the next 2-year period.

Oh and they tacked on a 'consumer awareness charge' of 0.1 cents/kWh.

Good thread here.

[mrkajz44]

Seems like if you have a plan, like EasyMax, then floating or fixed are still available options. This is just changing the RRO to something different.

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[DoubleK]

Originally Posted by mrkajz44

Seems like if you have a plan, like EasyMax, then floating or fixed are still available options. This is just changing the RRO to something different.

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Floating on EasyMax is the RRO. That's going away.

There will allegedly be "competitive" floating, but what that looks like is TBD.

[bizaro86]

Originally Posted by DoubleK

Floating on EasyMax is the RRO. That's going away.

There will allegedly be "competitive" floating, but what that looks like is TBD.

You have been able to get competitive floating rates for some time.

Eg - Atco's "Advantage" rate plan is a floating rate based on wholesale power prices.

[DoubleK]

Originally Posted by bizaro86

You have been able to get competitive floating rates for some time.



Eg - Atco's "Advantage" rate plan is a floating rate based on wholesale power prices.

Which is based on the RRO. This amendment to the regulation is changing that.

[Fuzz]

Here's the thread for non xitter users:


https://unrollnow.com/status/1841585937362682114

[Shazam]

Switched to floating elec @ 6.9 cents, floating NG because there's way too much methane.

[Old Yeller]

FYI, Enmax is offering 8.69¢/kWh on a fixed 3-year right now.

[Jimmy Stang]

Originally Posted by Old Yeller

FYI, Enmax is offering 8.69¢/kWh on a fixed 3-year right now.

Thanks for that. Switched from 9.79 - every little bit counts! I do like to lock in on electricity as the regulated rate option is usually pretty wild.

Is the prevailing opinion on natural gas to remain on floating for now? I noticed that floating comes with an extra of 1.23 per GJ (it used to be 0.99 per GJ). Even then, it looks like it is cheaper to remain on floating for now.

Or... lock in on something fixed while it is relatively low? Current fixed rate is over $4/GJ for 3 years.

[Jason14h]

I was on 10.5 5 year - Pennies raining for the sky!

[Jacks]

So Enmax automatically switched me from floating electricity to a 5yr term @ $10.49. The other options were 1yr fixed @ $8.99, 3yr fixed @ $8.79 or floating. I averaged the last year and it came in at <$8 so I switched to floating for now.

Now that I think about it $8.79 might have been the right way to go?
The lower rate months are also the lowest usage but I do have central air in the house.
What do the power whisperers in this thread think is the best right now?

FYI, everyone should check their plans, they might have switched you to a 5yr.

[Bigtime]

Originally Posted by Jacks

So Enmax automatically switched me from floating electricity to a 5yr term @ $10.49. The other options were 1yr fixed @ $8.99, 3yr fixed @ $8.79 or floating. I averaged the last year and it came in at <$8 so I switched to floating for now.

Now that I think about it $8.79 might have been the right way to go?
The lower rate months are also the lowest usage but I do have central air in the house.
What do the power whisperers in this thread think is the best right now?

FYI, everyone should check their plans, they might have switched you to a 5yr.

Were you on the RRO rate? The one that is becoming the "rate of last resort" now? A neighbour posted a letter they got from Enmax in regards to that indicating that they would be switched to that new rate automatically January 1st since they were an RRO customer.

[Fuzz]

They automatically switch you when your plan expires, I think. Given it is already January, we may have one more cold power shock, but I'd probably float for a bit. You can also bail on those new plans any time. You can switch once a month.

[Jacks]

Originally Posted by Bigtime

Were you on the RRO rate? The one that is becoming the "rate of last resort" now? A neighbour posted a letter they got from Enmax in regards to that indicating that they would be switched to that new rate automatically January 1st since they were an RRO customer.

Pretty sure I was on floating. Ya, I got that email/letter too, first chance I've had to check it since their website has been on maintenance for a long time.

[Bill Bumface]

Thanks for this. I am in the same boat and forgot about it. I went to floating.

[WideReceiver]

In-laws are on a fixed electricity rate with Epcor of 12.19 cents with 4 years left. There's a lower rate available of 8.78 cents but the term is 2 years. Is it better to get a lower rate? Are electricity rates likely to be higher than 12 cents 2 years out? Switch now?

[Jimmy Stang]

Originally Posted by WideReceiver

In-laws are on a fixed electricity rate with Epcor of 12.19 cents with 4 years left. There's a lower rate available of 8.78 cents but the term is 2 years. Is it better to get a lower rate? Are electricity rates likely to be higher than 12 cents 2 years out? Switch now?

Does Epcor let you change your plan every 30 days? Enmax allows that.

I monitor my father-in-law's stuff too, so if Epcor permits it, I'd change to that rate for 2 years, but set a reminder every few months to check to see if you can lower it and/or lock in for longer.

As for whether years 3 and 4 will be higher than 12.19 is anyone's guess. But you'd be saving 3.41 for years 1 and 2. So years 3 and 4 would have to be higher than 15.60 (12.19+3.41) for you to lose that bet and cancel your your savings from the first two years.

Of course fees, riders, etc. make up the majority of the bill - I'm just talking about the simple electricity rate.

[musth]

Thoughts on what I'm currently being offered from Atco for electricity/gas?

My last preferred 3 year rate comes due at the end of February (which was $5.99/kWh and $6.99 per service, and $3.99/GJ and $6.99 per service)

New Electricity Rate
$7.99/kWh
+$0.33 per service per day ($10.23 a 31 day month)

New Gas Rate
$3.99/GJ
+$0.33 per service per day

[RichieRich]

Just had a look at our EnMax.... seems you can add a Promo code to your rate selection. Anyone have a code to share? or know where to find one?

Previous contract rolled over and they automatically signed us up for 5yr plans, each of which are about 20% higher than the 3yr numbers below.

Current choices are:
8.79c/kWh for 3yrs
4.59/GJ for 3yrs

[musth]

Originally Posted by musth

Thoughts on what I'm currently being offered from Atco for electricity/gas?

My last preferred 3 year rate comes due at the end of February (which was $5.99/kWh and $6.99 per service, and $3.99/GJ and $6.99 per service)

New Electricity Rate
$7.99/kWh
+$0.33 per service per day ($10.23 a 31 day month)

New Gas Rate
$3.99/GJ
+$0.33 per service per day

How does this look to y'all?