Subscribe to Park Power’s Newsletter before May 1st, 2016 to be entered to win this awesome Rayne Misfortune Longboard.
parkpower · · Leave a Comment Community Building, Consumer Info, Electricity, Interesting, Solar Power
parkpower · · Leave a Comment Consumer Info, Electricity, Interesting
Recently Enmax, Direct Energy, and AltaGas have all exercised a right available to them in their Power Purchase Arrangements to opt out of the agreements and return them under the control of the Balancing Pool. These actions will have impacts on consumers in the Alberta Utilities market who might be asking, “What is the Balancing Pool and a Power Purchase Arrangement”?
If your energy retailer is providing you with a proper breakdown of your charges, like ours below, you will see Balancing Pool Allocation as a line item on your electricity bills and wonder what it is doing there. For the most part consumers have been, like this example, receiving allocations or credits on their bill.
The Balancing Pool was established in 1999 by the Government of Alberta to help manage and support the transition to a fair, efficient, and openly competitive electricity market in Alberta by performing the duties and responsibilities set out in its mandate including managing the risks and maximizing the value of the assets held on behalf of Alberta’s electricity consumers
The legislated duties of the Balancing Pool include:
Now what does it mean that the Balancing Pool is responsible for the Power Purchase Arrangements? Well when the 3 large retailers opted out of their PPA’s, the financial responsibility to the coal fired generation assets became the Balancing Pools to manage. The PPAs were long term fixed power price purchase arrangements initially set up and auctioned off to begin acting as market mechanisms on January 1, 2001 when the Alberta Utilities Market opened up for competition. The existence and the fixed price nature of a PPAs for electricity provided market price stability for the owners of the generation assets. It also added a level of market protection to consumers as well since wholesalers and retailers of electric energy had access to fixed contracted term rates for power as opposed to the wholesale spot market where the price changes constantly throughout the day. (as you can see in the image below)
With the Balancing Pool responsible for more assets a question that arises in our minds is, will the Balancing Pool Allocations that our customers have been seeing on their bills as credits start changing to Balancing Pool Charges? Perhaps, but not likely anytime soon. According the 2014 Annual Report, since 2006, the total Consumer Allocation from the Balancing Pool to Alberta electricity consumers has exceeded $2.0 billion. The largest source of cash inflow to the Balancing Pool was from the sale of electricity and ancillary services from the Genesee and Hydro PPAs they hold. So now that they will be holding more assets, it should mean more cash inflow and perhaps a continuation of allocations to consumers.
So even though the Alberta Government stated it was going to review Enmax’s decision to opt out of their PPA, conditions are still good for consumers to save money on their electricity bills. The current market price for electricity is the cheapest it has ever been and forecasts have it remaining low in the near term. Our customers on the Flow-Thru Rate plan, who have been paying 3-4 ¢/kWh for their electricity, are capitalizing on the savings available.
Maybe it’s time you reviewed what you are paying make the switch to Park Power.
Shop Local Save Money
parkpower · · Leave a Comment Community Building, Consumer Info, Electricity, Interesting
2016 is into full swing now and should prove to be another interesting year for the electricity and utility industry.
The Alberta Government is starting to enact their Climate Change Plan which includes the phase out of coal fired electricity and the uptake of 30% renewable sources by 2030. The beginning of this change over will begin with incentives coming for farms and municipalities to install solar panels.
Park Power is helping you be a part of this positive change by offering the most affordable option to Albertans to support renewable energy with Green Alberta Energy. Offset any percentage of your usage for the lowest rate on Green Power available in Alberta of 1.66¢/kWh.
For the average Albertan home 100% would cost $14.11/month and 25% would cost $3.53/month.
Why not connect with us on Social Media?
Park Power is active on Facebook,Instagram, Twitter, Google Plus, and we are now trying our hands at the mobile only Snapchat. Our content on these different platforms is curated by Park Power’s owner Kris Kasawski, who tries to share content that has value to our followers.
We aim to tell our story as well as be a resource for our customers and followers for information on the utilility industry(with a slant toward renewable energy) and on Alberta’s Climate Leadership Plan. Park Power on social media is also a great source for various happenings in the local economy. We love to support and advocate for all the awesome independent local businesses we have in the Edmonton Region.
These platforms also provide a great platform for customer feedback and we would love to hear from you. Please give us a quick review either onFacebook, Google, or with the Better Business Bureau. These reviews provides great value to us for a couple minutes of your time and we thank you for them.
Park Power’s Introductory Natural Gasoffering is going well and we are glad to be offering our customers in the ATCO Gas Territories lower admin fees and a lower transactional fees on this essential product for Albertans.
For our customers who want to take advantage of getting their natural gas as well as electricity from Park Power can simply add it onto their account in the My Account section ofparkpower.ca
Our new customers are able to choose both products from us directly from our Sign Up Page when they apply for new service with Park Power.
The deregulated electricity market in Alberta is working for consumers and saving some over 50% on their electricity rates. That is a significant amount of savings that consumers who have switched to Park Power have been able to benefit from.
Some consumers ask how we are able to beat the big utilities on price and by such a large amount. Firstly, with our lower overhead and efficient business practices we will always be able to beat the big utilities. Secondly, as a smaller independent energy retailer we are able to react faster to the low prices on the wholesale electricity market in Alberta and offer big savings to consumers who switch to our Floating Rate.
Our Fixed Rate plans are still a great deal for those who like to protect themselves from the ups and downs of the electricity market. Head to our Sign Up Page to take advantage of the our Value Rate of 6.5¢/kWh.
Here are some rate comparisons for you to consider.
It is mid April 2015 and the current Floating Rate for our customers is averaging about 3.7¢/kWh
EPCOR’s RRO Default Rate for April is 5.689¢/kWh – 35% Higher
Enmax’s current Fixed Rate is 6.99¢/kWh – 47% higher
Direct Energy’s current Fixed Rate is 7.37¢/kWh – 50% higher
Just Energy’s current Fixed Rate is 8.69¢/kWh – 58% higher
#LocalPower is working for those who have taken advantage of what we can offer.
Switch now to take advantage of the savings offered by Park Power.
Plus if you are a Park Power customer by April 30, 2015 you will be entered in the draw to win the awesome Electra Townie courtesy of Mud, Sweat, & Gears.
Be Awesome
Shop Local Save Money
Park Power will be at booth #214 of The Great Canadian Trade Fair & Sale, which takes place April 10,11,12 at Millenium Place in Sherwood Park, AB, spreading the good word about shopping local and saving money on your power bill. As an independent local business, the Trade Fair provides a great opportunity to connect with local residents and inform them that they have choices for their utility services and that Park Power is The Better Choice.
A big thanks goes out to Roman Hermens, and Dennis Michael, for their help with design and printing of our new banner designed to both inform from a distance as well as engage consumers to find out more about Park Power.
We will be offering a Super Cheap Trade Show Special Rates for residential and commercial electricity service for those that sign up for with Park Power. Plus those customers will be entered to win this wonderfully orange Electra Townie Bike supplied by Mud, Sweat, & Gears
For those of you who aren’t able to come and see us in person you can follow our Trade Show antics on social media via Twitter and Instagram. Use the hashtag #localpower to find or interact with us.
In preparation for the Trade Fair, Park Power has made its first foray into radio advertising so if you don’t believe that we are as awesome as we say we are perhaps you will believe this guy.
#454, 314 – 222 Baseline Road Sherwood Park AB
T8H 1S8