Happy New Year! As our headline above describes, the new year has brought with it new lower rates that we are very excited to share with you! Given the steadiness on the supply side of the market, low oil prices and a solid market forecast, we were able to secure rates lower than ever before. Rates that are significantly lower than anything the big boys like Enmax, Direct Energy, Just Energy and Encor are offering now or anytime in the past number of years!
What’s more, we’ve lowered our Senior’s Rateminimum age to 60! If you are 60 or know people who are, take advantage and make the switch!
Furthermore, if you are a business that consumes a lot of power each month, feel free to get in touch with us directly as we may be able to improve on our rate offering below.
Residential & Farm Plus – 7.2 cents/kWh
Residential & Farm – 7.5 cents/kWh
Senior’s Residential – 6.9 cents/kWh
Commercial Plus – 7.1 cents/kWh
Commercial – 7.4 cents/kWh
Non-Profit Organization – 7.0 cents/kWh
*Note that our Plus and Seniors rates require a security payment
*Rates in effect until June 1, 2015 or while supply lasts
As we look back at 2014, the average market price paid for power to the generators for the year closed at just over $50/MWh, the 3rd lowest year since the birth of deregulation and 36% lower than 2013. This is great news for the Alberta consumer as it will have a net effect of lowering power costs for everyone, especially with prices anticipated to stay low well into 2015.
As I write this newsletter, the 30 day average price is sitting at $34/MWh which translates into a floating rate in the 4.5 cents/kWh range. If you have yet to sign up with Peace Power, you may also want to consider our floating or dynamic rate. The dynamic rate is very low right now, even markedly lower than our fixed rate offerings, and should continue to stay this way for the next while barring any big upsets in the supply side of the market. Should the dynamic rate start to eclipse the fixed rates we offer, you can always make the switch with 10 days notice.
In market news, the Alberta Government put out a press release on December 18th regarding changes to the electricity system based on recommendations of the MLA Retail Market Review Committee.
The highlights include:
– clarifying that the Local Access Fee on bills is set and collected by the municipality in which you live
– changing the name of the Regulated Rate Option (RRO) to the Default Rate – this is a name change only, nothing in the policy changed
– retail advertising material can no longer be inserted into the billing envelopes for those customers still on the Default Rate
While none of the changes will help consumers save money on electricity, they are nonetheless positive steps taken by the government to help educate Albertans, increase transparency in the market, and level the playing field between competitive and Default Rate providers. Slowly but surely things are changing for the better in our marketplace.
To read the full press release, click on the link below:
Click Here For AB Government News Release
Cheers / Chad
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