In Alberta our electricity rates are proving that a deregulated electricity market is rewarding consumers that have chosen to get off the RRO (Regulated Rate Option) offered by the big utilities and Sign Up with an independent Energy Retailer like Park Power.

2014 prices will end up being the 3rd lowest prices paid for power since the birth of deregulation in 2001. The Wholesale price of power for competitive retailers like Park Power has dropped 36% since last year from $80.18/MW to $50.02/MW.

Wholesales Power Prices in Alberta 2002-2014

How do low wholesale prices reward consumers? Park Power customers on the Floating Rate right now with Park Power are paying 4-5¢/per kWh compared to the RRO during December that is in the 7.3¢/kWh range. That is close to a 30% difference in the rate paid for electricity. Park Power has proven again, that we can outperform the big utilities and offer consumers lower energy prices.

While Park Power is passing the savings onto its consumers the big utilities are trying to cut costs by outsourcing to foreign countries. Direct Energy has contracted their customer service with HCL in India. ENMAX outsourced IT jobs to Tata Consulting Services in India and Atco iTek services are being provided by Wipro of India. Will the strategy work? Time will tell, but what it does mean if you think about it: the utilities margins will most likely increase – jobs will be lost and consumers stuck on the RRO will most likely continue to pay more when compared to the lower prices being offered by Park Power.

Deregulation is working for consumers. It could work for more consumers as well if they chose to get off of the government regulated RRO and sign up with an independent competitive retailer like Park Power. When a consumer does this nothing changes to their electricity service and supply, what changes is the price they pay for it. Why not take advantage of a retailer offering lower rates, with no exit fees and superior, Alberta based customer service.

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Park Power Newsletter

Keeping you in the loop about your local energy retailer

Recently Park Power celebrated our one year anniversary of offering a better choice for consumers to pay their power bill to. It has been an exciting and challenging year but thanks to you, our wonderful customers, we have continued to grow and look forward to what the future holds for Park Power and our Community Partner program.

At Park Power we hope that it feels good to support a local company when you are paying your power bill. In case you need some more reassurance that the local choice is the better one here is a comparison of us versus the big corporate players.Our current Residential Value and Small Business rate of 7.75 cents/kWh certainly offers some savings over the larger competitors. Park Power’s Floating rate has recently been in the 4-5 cents/kWh range offering savings for those customers willing to weather the ups and downs of the electricity market.- EPCOR’s RRO rate it fluctuates up and down and the average rate since Aug 2011 is 8.93 cents/kWh.
– Direct Energy’s 3 year rate offering is currently 8.39 cents/kWh
– Enmax’s 5 year rate offering is 8.49 cents/kWh
– Just Energy’s current 4 year rate offering is 8.69 cents/kWhSome more things to note.

ENMAX, the City of Calgary owned utility, is currently running a full page ad in Edmonton offering customers “Free Electricity” for a year. But, as you know nothing is ever for free, explained in detail in previous Blog post. The consumer must sign up for both gas and electricity for five years at not-so-great rates, and is stuck with high exit fees if they leave early.

ENMAX has also been in the news for a couple of reasons. They were recently in court on the charge of $375 Million in unpaid taxes. Also, they recently made the decision to outsource jobs to India.

Also remember that none of these retailers share their profits with local charities but Park Power does.

From our consumer surveys we learned that you wanted to learn more about Park Power’s community initiatives. One great way to stay up to date with what we are up to and how we are involved in our community is to Like us onFacebook or follow us on Twitter andInstagram.This past month Park Power was happy to support our Community Partner, the Festival Place Cultural Arts Foundation, for their 20th annual Black & White Fundraiser. It was a great fundraising event for the Under the Big Top youth programming as well as scholarships for local youth performing artists.As always it is great to have customers like you supporting Park Power so that we are able to share 10% of our profits with our Community Partners.

A Deregulated Electricity Market Is Rewarding Consumers