Electricity Prices Up in Alberta
By: Nick Clark
On Canada Day, Alberta utilities, which are selling electricity, priced based on the Regulated Rate Option (RRO), increased their rates. This was nothing to celebrate.
Direct Energy increased their prices by 9%, ENMAX pushed prices up by 15%, and EPCOR increased their RRO by 24%. Simply put, Albertans still on the RRO will see their electricity bills go up in July.
The timing couldn’t be worse, as many Albertans are still facing financial struggles as the result of COVID-19. At a time where every little bit of savings counts, getting the best deal for your energy is essential. Better rates are available; consumers just need to switch over to a competitive retailer.
On a comparative basis, during the last three months, small energy retailers in Alberta continued to outperform the government-regulated utilities. Residential consumers still swimming around with the big utilities paid over 25% more for the energy they consumed compared to lower variable rate prices charged by Spot Power and others.
Some of the reasons our prices are lower are simple to understand; the overhead of our business is lower, we are lean, we run an automated e-commerce system, and our operating margins are also lower.
Spot Power is one of many local Energy Marketers operating under the umbrella of Utility Network and Partners Inc. (UTILITYnet). Our company was founded by Nick Clark and Madeline Low, with the history of the company now dating back over four decades. UTILITYnet focused on offering an alternative to big-box retailers that have high prices and some of the utilities that outsource customer care, billing, and information systems jobs out of the country. We have kept our jobs local.
There are many small local businesses just like us in Alberta. Each one unique, but each one part of what makes our province special. Think about your favourite local business, what makes them stand out to you? Is it the personalized touches they implement that you would never see from a big-box store? Is it the unique products and services they provide that deviate from the mass-produced, cookie-cutter items that are commonplace with large retailers? Whatever it is, showing your support for small local businesses is more important than ever. The comparison between big utilities and Energy Marketers in our network is no different.
Visit www.SpotPower.net to sign-up today.
Want to save more? With the introduction of our new high-speed Internet offering through our newest retail venture, Q Wave, you can get reliable, commitment-free internet at lower prices than the large incumbents. Bundle your electricity and/or natural gas with Q Wave Internet and get six months of administration fees, free!
Everyone knows that there is profit built into the energy rates that consumers pay, possibly it is time to restructure the old utility model and put the control and the profits back into the hands of small businesses, consumers and the communities in which they live. This is an invitation to the Department of Energy to sit down with us and explore better options.
UTILITYnet created an energy retail program unique in North America called the Energy Marketer program. Spot Power was birthed from this program, and its low-cost business model has proven that entrepreneurs, small businesses, and municipalities can sell for less AND share the profits available in Alberta’s deregulated energy retail market.
Today, over 20 other small businesses have been created through this program, each one sharing their profits and giving back to the communities in which they live and work. Each of them is often offering floating rates, which are lower than the RRO rates published by the big utilities. The best part is that today, consumers have plenty of choices.
In the spirit of diversification of our provincial economy and giving consumers more choice in the market, UTILITYnet continues to invest in helping other companies, and yes, even competitors, open energy marketing storefronts in their local community. We are always looking for entrepreneurial individuals and groups that are looking to plug into the e-commerce solution we have created similar to Spot Power or the likes of Park Power in Sherwood Park, Echo Energy in Lacombe, and Bow Valley Power that was started in Canmore.
To learn more about the Energy Marketer program, click here or contact UTILITYnet to inquire about joining the network.
Direct Energy increased their prices by 9%, ENMAX pushed prices up by 15%, and EPCOR increased their RRO by 24%. Simply put, Albertans still on the RRO will see their electricity bills go up in July.
June 2020 RRO Rate
|
July 2020
RRO Rate
|
%
Increase
|
|
| Direct Energy |
6.007 ¢/kWh
|
6.547 ¢/kWh
|
9%
|
| ENMAX |
5.367 ¢/kWh
|
6.163 ¢/kWh
|
15%
|
| EPCOR |
5.501 ¢/kWh
|
6.841 ¢/kWh
|
24%
|
The timing couldn’t be worse, as many Albertans are still facing financial struggles as the result of COVID-19. At a time where every little bit of savings counts, getting the best deal for your energy is essential. Better rates are available; consumers just need to switch over to a competitive retailer.
Big Utilities Outperformed by Small Retailers
Spot Power, an Energy Marketer in our network has a 90-day average for its variable (floating) rate of just 4.4 cents per kWh. It is time for consumers to take the leap and switch off of the RRO.On a comparative basis, during the last three months, small energy retailers in Alberta continued to outperform the government-regulated utilities. Residential consumers still swimming around with the big utilities paid over 25% more for the energy they consumed compared to lower variable rate prices charged by Spot Power and others.
Some of the reasons our prices are lower are simple to understand; the overhead of our business is lower, we are lean, we run an automated e-commerce system, and our operating margins are also lower.
Spot Power is one of many local Energy Marketers operating under the umbrella of Utility Network and Partners Inc. (UTILITYnet). Our company was founded by Nick Clark and Madeline Low, with the history of the company now dating back over four decades. UTILITYnet focused on offering an alternative to big-box retailers that have high prices and some of the utilities that outsource customer care, billing, and information systems jobs out of the country. We have kept our jobs local.
There are many small local businesses just like us in Alberta. Each one unique, but each one part of what makes our province special. Think about your favourite local business, what makes them stand out to you? Is it the personalized touches they implement that you would never see from a big-box store? Is it the unique products and services they provide that deviate from the mass-produced, cookie-cutter items that are commonplace with large retailers? Whatever it is, showing your support for small local businesses is more important than ever. The comparison between big utilities and Energy Marketers in our network is no different.
Visit www.SpotPower.net to sign-up today.
Want to save more? With the introduction of our new high-speed Internet offering through our newest retail venture, Q Wave, you can get reliable, commitment-free internet at lower prices than the large incumbents. Bundle your electricity and/or natural gas with Q Wave Internet and get six months of administration fees, free!
Open Message to Our Government
Are the days of the utility business numbered? We believe that old world utilities will eventually die unless they change. Shipping jobs offshore is not the solution to controlling costs, and increasing profits. Delivery charges cannot continue to increase.Everyone knows that there is profit built into the energy rates that consumers pay, possibly it is time to restructure the old utility model and put the control and the profits back into the hands of small businesses, consumers and the communities in which they live. This is an invitation to the Department of Energy to sit down with us and explore better options.
UTILITYnet created an energy retail program unique in North America called the Energy Marketer program. Spot Power was birthed from this program, and its low-cost business model has proven that entrepreneurs, small businesses, and municipalities can sell for less AND share the profits available in Alberta’s deregulated energy retail market.
Today, over 20 other small businesses have been created through this program, each one sharing their profits and giving back to the communities in which they live and work. Each of them is often offering floating rates, which are lower than the RRO rates published by the big utilities. The best part is that today, consumers have plenty of choices.
In the spirit of diversification of our provincial economy and giving consumers more choice in the market, UTILITYnet continues to invest in helping other companies, and yes, even competitors, open energy marketing storefronts in their local community. We are always looking for entrepreneurial individuals and groups that are looking to plug into the e-commerce solution we have created similar to Spot Power or the likes of Park Power in Sherwood Park, Echo Energy in Lacombe, and Bow Valley Power that was started in Canmore.
To learn more about the Energy Marketer program, click here or contact UTILITYnet to inquire about joining the network.