Alberta Price Alert for Electricity in May. RRO Prices for Electricity are on target to increase 32% for May 2014.
This is a message aimed mainly at customers on the RRO (Regulated Rate Option) but is good information for all energy consumers.
The Regulated Rate Option (RRO) is the default rate for electricity. The RRO fluctuates month to month because it is based on short term market prices, just like the regulated rate for natural gas. The RRO provider is the default provider of electricity for a consumer who has not yet signed up with a competitive retailer like Park Power.
RRO prices are set prior to the billing month. May’s rates will be set soon based on current market prices and are trending towards a range of 8.9-11.4 ¢/kWh rate for May 1st.
If like me you live in the Edmonton Region then your RRO provider is EPCOR. If you pay your power bill to EPCOR then you have been lucky lately paying just under 7.00 ¢/kWh for the past two months but you can expect to see a drastic jump in your bill soon. The forecasted rate increase for May is based on current and trending market data posted by the AESO.
By signing up for the current Park Power Residential Value Rate of 7.75 ¢/kWh you could avoid the 32% jump in price and you will end up paying a rate that beats the 3 year average for the Edmonton Region RRO of 9.06¢/kWh.
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