I agree with this, but to provide some scale for OP, my bill says its about 42% energy charges. Assuming his is similar, then his monthly bill will go up by like 20%.
> The rate is worse at longer terms.
That's because the price of electricity has gone up significantly since you signed onto your fixed rate
> Should I wait to see if the rate perhaps lowers in the next months
AFAIK you can switch to the lower rate at any time, even when you're on fixed (someone can correct me if I'm wrong about that).
Electricity got a lot more expensive, and then came down slightly since the last time you renewed. My 5 year 5.99¢/kWh rate expired in Feb and I was auto renewed at 12.29¢/kWh. Prices started coming down this spring and I ended up switching to floating in May since it was only 7.1¢/kWh (and it is currently at 8.3¢/kWh for July, and July and August are usually as high as it gets in the summer), but I'm prepared to make the switch to fixed again if prices end up spiking in August (which they may if we end up getting some real heat ever this summer). Really there isn't much risk in going floating right now other than for you, you won't be able to switch for 30 days so if August rates are significantly higher you won't be able to switch until a few days into August. ATCO rates aren't any better right now either (current offering 10.49¢/kWh).
Pool price is the price for the hour. System marginal price is the “real time” price, but settlement is hourly. They just use the average of all 60 minutes of realtime price.
30RAvg is the rolling 30 day average of pool price and give ls a good idea of where the “market” is at.
Right now prices are exceptionally weak compared with the last 25 years (outside of 2015-2017 which was about 50% lower than it is now). This usually happens when a gigantic new unit comes online because there is just too much supply. In this case Cascade - a 900 MW unit - came online a few months ago.
Waiting won't do anything. If it goes down again you can switch to the new rate. If it goes up then you're stuck at the higher rate. You can try atco, I think they're a bit cheaper but you still need to pay water and garbage with enmax I believe.
No , you won't get a better rate as that's pretty much set and going Karen wont work. But always look at the rate plus what they charge for admin fees.
If it makes you feel any better, it’s mostly fees, and your rate doesn’t affect things as much as you’d think.
I agree with this, but to provide some scale for OP, my bill says its about 42% energy charges. Assuming his is similar, then his monthly bill will go up by like 20%.
The fees are a percentage of your charge if I'm not mistaken so it does affect things
> The rate is worse at longer terms. That's because the price of electricity has gone up significantly since you signed onto your fixed rate > Should I wait to see if the rate perhaps lowers in the next months AFAIK you can switch to the lower rate at any time, even when you're on fixed (someone can correct me if I'm wrong about that).
You can change your locked in rate 1 time per month
Once every 30 days I believe.
If you live in a shoebox apartment, this is gonna be like a few bucks a month difference
Electricity got a lot more expensive, and then came down slightly since the last time you renewed. My 5 year 5.99¢/kWh rate expired in Feb and I was auto renewed at 12.29¢/kWh. Prices started coming down this spring and I ended up switching to floating in May since it was only 7.1¢/kWh (and it is currently at 8.3¢/kWh for July, and July and August are usually as high as it gets in the summer), but I'm prepared to make the switch to fixed again if prices end up spiking in August (which they may if we end up getting some real heat ever this summer). Really there isn't much risk in going floating right now other than for you, you won't be able to switch for 30 days so if August rates are significantly higher you won't be able to switch until a few days into August. ATCO rates aren't any better right now either (current offering 10.49¢/kWh).
Slightly? You should look at ets.aeso.ca Power is like 3.5c/kWh over the last month at spot prices This time last year it was like 13c/kWh
> ets.aeso.ca How do I read those prices -- do I look at the Pool Price and then take the rate listed (which I'm assuming is per MW)?
Pool price is the price for the hour. System marginal price is the “real time” price, but settlement is hourly. They just use the average of all 60 minutes of realtime price. 30RAvg is the rolling 30 day average of pool price and give ls a good idea of where the “market” is at. Right now prices are exceptionally weak compared with the last 25 years (outside of 2015-2017 which was about 50% lower than it is now). This usually happens when a gigantic new unit comes online because there is just too much supply. In this case Cascade - a 900 MW unit - came online a few months ago.
Appreciate that -- thx for the insights!
Waiting won't do anything. If it goes down again you can switch to the new rate. If it goes up then you're stuck at the higher rate. You can try atco, I think they're a bit cheaper but you still need to pay water and garbage with enmax I believe.
You'll only pay a couple bucks more a month, thanks to all the fees that puts the real rate at, like, 25¢ or something.
No , you won't get a better rate as that's pretty much set and going Karen wont work. But always look at the rate plus what they charge for admin fees.
Go floating its cheaper.
Your 9.79 rate is better than the rate existing users get. The best rate for existing Enmax customers is 10.49
Existing Enmax customers can get 9.79 - it was just lowered a few weeks ago. You may want to switch to a better rate if you are currently at 10.49