Since the start of 2014 we’ve seen a fairly steady spot market for electricity prices with only minor blips over the past 6 months. From January through June regulated rate prices have averaged above 7.5 cents/kWh. This has been good news for consumers in general. Those still on the regulated rate got a nice reprieve from what is otherwise a rate that has averaged around 9 cents/kWh over the past three years. Albertans who have already moved off the regulated rate to a fixed rate with Peace Power faired slightly better as our fixed rates have been in the low to mid 7 cents/kWh range throughout this same period.
The regulated rate prices are anticipated to rise by almost 50% in July compared to June and will likely stay or rise even further as we head into August. The nice low RRO rates of 2014 might be a thing of the past as we head into the heart of summer.
Peace Power has been fortunate enough to offer consistent low prices to its customers throughout 2014 to date and will continue to do so. Our prices have been lower than the RRO average through the first half of 2014 and early signs point to us lowering our prices even further as we negotiate our next rates to be offered August 1. Our prices will fall as the RRO trends up, widening the current disparity.
Recently we’ve also seen new products being created by Enmax and Epcor in order to stay competitive in the Alberta market: Enmax’s new ‘free power for a year offer’ and Epcor’s new ‘Encor’ competitive rate offering. Rest assured your best bet after crunching all the numbers is still with Peace Power.
If you haven’t already made the switch, now is as good a time as any. Check out our current prices on our website at www.peacepower.ca and spread the news.
To good summer weather and cheap power!
Cheers / Chad
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