Fixed or Floating Electrical Rates

[REV2XHEART]

I was on fixed for the last 5 years cause it was a great rate. Its not as great right now and floating rate is lower. Looking at the historical rates the last little while floating has always been lower except for one month in the summer if i am using the right source of information.

What does everyone do here? fixed or floating?

 

[REV2XHEART]

sorry 2 months. one month in winter as well the floating was higher than the fixed. i assume the numbers i am looking at are just for the last year

 

[Sledder_boarder]

Fixed electric, floating gas rate for me in Alberta

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[Sledder_boarder]

I was on fixed for the last 5 years cause it was a great rate. Its not as great right now and floating rate is lower. Looking at the historical rates the last little while floating has always been lower except for one month in the summer if i am using the right source of information.

What does everyone do here? fixed or floating?

I believe they tack on a surcharge onto floating rates so watch out for that

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[mathrulz]

Ever since the new 900MW Cascade power plant by Edson came online prices have been gradually dropping. Where the bottom is, who knows, but over the next few years as AP’s new H2 plant and DOW’s expansion eventually startup, these will be large consumers of power, so prices will go up again. I haven’t heard of either of these projects including power generation, but there are rumours of another large power plant somewhere in the heartland area around Edmonton, but I’m guessing it’ll lag AP and DOW.

The next 2-3 years may be a wash either way, but I’d be looking to lock in again in advance of those next projects coming online if you can.

Personally I prefer to be locked in, but am always watching and will renew early if rates keep moving down. You have to be careful when comparing monthly average floating rates too. When floating, your price actually changes every hour. So over the month the posted cost might average to X, but if there’s a cold snap or daily peak demand times where you’re using more power, your personally average price will end up being different since you don’t use your electricity evenly over the entire month.


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[ABMax24]

I'm locked in on both, I'm currently shopping for natural gas, as my current term expires in February.

I'm with ATCO Energy currently for gas, I'm paying $3.69/GJ right now, and will probably lock in at $3.88/GJ for the next 3 years unless I find a better rate elsewhere.

Electric I'm with Spot Power, but I get a wicked deal because of my solar setup, I pay 6.69cents/kwh in the winter, and get paid 30cents/kwh in the summer when I sell back to the grid. If it wasn't for solar I'd be with ATCO Energy locked in at 8.88cents/kwh for the next 3 years.

Natural Gas prices bottomed out this summer and are on the way up. LNG Canada fires up in June of 2025, and will eliminate the glut of Natural Gas in Western Canada and will push up prices. Electricity prices will follow as 75% of electricity generated in Alberta comes from Natural Gas.

 

[REV2XHEART]

Im with epcor for both or is it called encor by epcor whatever.

floating case is currently $1.28GJ and im on fixed electricity at $9.79. looks like i could get that 6.69cents/kwh on Spot Power as well until April 2025. likely worth switching

i guess i better put a reminder to check and see if i should lock in a gas rate in May 2025

 

[ABMax24]

Now looking at it, I'm kind of pondering going back to variable for gas. I was always variable until the price spiked in summer of 2022, and then went fixed to save a few bucks. I've definitely lost out this year by staying fixed.

I'm probably overthinking it though, I haven't used more than 9 GJ of gas in a month in the last 2.5 years, and only used 38 GJ for all of 2023, a dollar or two difference in price doesn't affect my monthly bill much at all.

 

[ABMax24]

looks like i could get that 6.69cents/kwh on Spot Power as well until April 2025. likely worth switching

You only get that rate for another 6 months though, after it would go up to 9.45. If you're going to switch ATCO Energy for 3 years at 8.88 is a slightly better deal.