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Many people ask when is the best time to lock in at our fixed rates. Consider the following: |
1. Fixed Rates vs. Fluctuating RatesWhen comparing our 5-year fixed rates to your current electricity rate remember that, unlike your current rates, our 5-year rate is guaranteed not to change for the full term of your contract. So the price you sign up for today will be the same price you will pay until about October 2015.
During this same period, by not locking in, you could be subjected to up to 10 hydro rate increases. |
2. Increasing Electricity RatesMost experts believe that electricity rates will rise significantly in the coming years. Locking in to a fixed rate guarantees your low rate, regardless of how high electricity rates may rise in the future. Your local utility cannot provide you with a fixed rate.
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3. HOEP Rates Fluctuate DailyIf you are a currently a HOEP customer (most large businesses), the current (market) rate that you are paying varies from hour to hour and there are no guaranteed maximums. |
4. Regulated Rates are Adjusted FrequentlyIf you are currently an RPP customer (residential and small businesses), the current rates are locked-in for only a six month period, and are subject to adjustment based on the actual cost of electricity every six months. |
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5. The Natural Gas ExperienceAs you can see from the 10-year price graph to the left, the price of natural gas can fluctuate wildly. A natural gas contract can help provide stability to your energy bills.
In the Natural Gas market, most consumers who locked in to fixed-rate contracts have benefited in the long run, despite the fact that their fixed rate price was higher than the current utility rate when they signed up. |
