Enmax fixed vs. floating rates...

[Robotic]

Bumping this thread because the floating rate is going to be lower than the fixed rate during May. Currently fixed is at $0.08 and floating will be $0.063504.
http://www.calgaryherald.com/busines...703/story.html

[Canehdianman]

I use spotpower.net for my electricity. I find them to be a bit cheaper than Enmax (I'm on the variable rate, which seems to be about $0.01 cheaper per kWh, as well as having a lower admin fee when compared to Enmax). In fact, on each bill, it tells me how much I've saved over the Enmax RRO since I started ($110 since Oct 2010)

Further, their fixed rates seem to be lower as well. Here is a link that shows the differences between providers in Calgary - http://www.theelectricityshop.net/compare/City.asp

I've been very happy with their services, so I thought I'd offer them up as an alternative to Enmax.

[albertGQ]

Originally Posted by Robotic

Bumping this thread because the floating rate is going to be lower than the fixed rate during May. Currently fixed is at $0.08 and floating will be $0.063504.
http://www.calgaryherald.com/busines...703/story.html

If I changed my Enmax to floating ($0.063504) and then want to change back to fixed after the summer, will I have to go with the current fixed rate or will I still get the $0.08 rate?
Is today the deadline for May?

[yads]

Originally Posted by albertGQ

If I changed my Enmax to floating ($0.063504) and then want to change back to fixed after the summer, will I have to go with the current fixed rate or will I still get the $0.08 rate?
Is today the deadline for May?

It would be whatever the current fixed rate, at the time you decide to switch back, is.

[albertGQ]

So what is everyone doing? Changing to variable with the risk that when you want to change it back to a fixed rate that it's higher than $0.08 or just leave it at fixed right now and pay a slightly higher rate?

[yads]

Originally Posted by albertGQ

So what is everyone doing? Changing to variable with the risk that when you want to change it back to a fixed rate that it's higher than $0.08 or just leave it at fixed right now and pay a slightly higher rate?

Seems like a hassle to save <$10 imo, but I'm currently at 7c, although my contract ends next June :-(

[ken0042]

Also staying at 8¢. Not worth the hassle, and the fixed rate could go back up to 9 or 10 cents. I also recently called them to lock in at 8¢ for another 5 years; I think I still had a couple of years left on my current contract.

[the wanderer]

Two part reply here.
First on the admin and distribution fees. If on the easymax rate the admin fee matches the rro rate. If memory serves the rro admin fee is regulated but I am not 100% sure. All the fees below the delivery line on your invoice are set with regulators and will be the same no mater what provider you go with as they are from Enmax Power not Enmax Energy.

As for whether to still go with fixed over floating. Its a gamble either way. Personally I'm staying on the fixed rate. Having looked over the last few years, there have been times where it was lower for a mth or two but over the 6 mth period or 1 year period the fixed rate ended up being better.

Looking online at http://www.ucahelps.alberta.ca/price-summary.aspx will give you all providers prices. Since every providers fixed price is higher than Enmax's I worry about going to floating rate as I don't know if Enmax's will go up or not.

[The Yen Man]

When i switched onto the fixed 8 cents rate, I still kept receiving advertising letters from Enmax telling me the advantages of fixed. I don't see those ads anymore, so it leads me to believe rates will probably go up soon. I think I'll just stick with the 8 cents for now.

[tvp2003]

My $0.07 rate expires next month; I just checked and the fixed rate is now 8.9 cents!?!

[bomber317]

Does anybody know what's going on with the new floating rates?

https://www.enmax.com/Energy/Res/My+...yMax+Rates.htm

If you signed up for the floating Rate before June 1st, the rates look to be more expensive.

If you signed up for the floating Rate after June 1st, they seem to be significantly cheaper... unless I'm missing something obvious.

[fundmark19]

Wow that is almost half the cost.

[Bob]

With a fixed rate of 8.9c, it's almost worth it to go floating for a while ...

I'm just about to lose my 7c rate, so I might try it.

[fundmark19]

I wonder if they are trying to get everyone out of the old fixed rate by offering low rates through summer then get everyone signed in at 8.9 once winter comes

[albertGQ]

Wow. That is a huge gap betwen floating and fixed. I don't know what I should do!?!?!!?

[bizaro86]

So to summarize, if I switch to floating now, I get 4.131 cents for June, but if I want to switch back later to fixed my fixed goes up to 8.9 cents from it's current 8 cents. Is that correct?

[bomber317]

Originally Posted by bizaro86

So to summarize, if I switch to floating now, I get 4.131 cents for June, but if I want to switch back later to fixed my fixed goes up to 8.9 cents from it's current 8 cents. Is that correct?

It takes 30 days to switch. So you'll get the variable rate for July. When you switch back, it will be whatever the going fixed rate will be at that time. Could be higher or lower than 8.9 cents.

I just don't understand why there's such a big gap if you signed up for variable before June 1st as opposed to after June 1st.

Will give them a call later to find out.

[Bill Bumface]

Wasn't one set of rates on that page for May and one for June?

[bomber317]

no, both sets of rates are for June.

One set is if you sign up for the Variable plan before June 1st.
The other set is if you sign up for the Variable plan after June 1st.

Edit: nevermind, i was wrong, one set is indeed for May

[the wanderer]

old floating rate matches the regulated rate. new floating rate is the average rate of electricity on the market for the mth plus 1c/kwh... also if on new rate have new terms and conditions which differ from the old ones

I am not sure if I would go floating or 8.9 c/kwh