Customer Choice - Saving You Money Everyday
Did you know that four out of every ten homeowners are paying more than necessary for electricity in Alberta? Alberta’s Market Surveillance Administrator (MSA) recently published an estimate of what the utilities will charge Regulated Rate Option (RRO) customers over the next year. Of particular note is the forecasted high in January 2023 at 18.34 cents/kWh. This is an all-time high rate and is double the lowest guaranteed electricity rates from Spot Power.
(For details of the forecast of 2023 RRO prices, see page 29 of the Supplemental Retail Market Report for Q2 of 2022.)
Rates are going up. As we move into 2023, you can expect higher electricity prices due to coal generation plants closing down, the gas supply being constrained on top of increased natural gas prices, more frequent extreme weather patterns, and lower-than-expected solar and wind generation. Long-range forecasts predict that the market should start to stabilize in 2024/25.
Consumers can shield themselves from unprecedented spikes in energy costs. All it takes is switching to fixed guaranteed rates with an Energy Marketer such as Spot Power. Finding a competitive fixed rate is easy; the Utility Consumers Advocate publishes a comprehensive list of retailers on its website with updated rates.
We hope the information published by the MSA gives you the information you need to support a switch off the RRO and over to lower guaranteed fixed rates. If you are a senior on a fixed income, homeowner, small business, or farm struggling with inflation and high energy costs, now is the time to switch.
Don’t get caught unaware; consider the lower prices and benefits offered by the many Energy Marketers within our network. The choice is yours!