Here at Park Power, we know navigating the world of electricity plans can be confusing. A recent change from the Alberta government aims to make things clearer for consumers. As of January 1, 2025, the default electricity rate will be called the Rate of Last Resort (ROLR), replacing the old “Regulated Rate Option (RRO)”.
This blog post will explain what the ROLR is and why it’s important for you to be aware of it.
What is the Rate of Last Resort (ROLR)?
The ROLR is the electricity rate you’ll automatically be placed on if you haven’t chosen a specific plan with a different retailer and for consumers whose credit history does not qualify them for competitive rate plans.. Think of it as a safety net. It ensures everyone has access to electricity, even if they haven’t actively selected a competitive plan from a provider like Park Power.
Why is the name changing?
The new name, Rate of Last Resort, more accurately reflects the nature of the rate. It’s intended as a backup option, not necessarily the most cost-effective choice.
Should I be on the Rate of Last Resort?
The ROLR may end up being more expensive than other options available from utility providers like Park Power. The Alberta electricity market is competitive, meaning retailers can offer a variety of plans with different rates and features. By choosing a plan that suits your needs, you can gain peace of mind and be able to save money on your electricity bill.
What are my options?
Park Power offers a variety of electricity plans to fit your budget and lifestyle. We have fixed-rate plans that lock in your price for a set term, offering peace of mind and predictability. We also offer variable-rate plans that fluctuate with the market but can sometimes be more cost-effective.
**Empowering Your Choice **
Park Power believes in transparency and informed decision-making. We encourage you to explore the different electricity plans available before January 1, 2025. By comparing options, you can choose the plan that best suits your needs and helps you manage your energy costs.
Here’s what you can do:
- Explore our website: Park Power offers a user-friendly online platform where you can compare electricity plans and easily switch if needed.
- Contact Park Power: Our friendly customer service team is here to answer your questions and help you find the best plan for your home.
Stay Informed:
We encourage you to stay informed about the latest energy news and developments. Park Power will continue to provide updates on our website and social media channels.
Don’t be left in the dark! Take control of your electricity costs and choose a plan that works for you with Park Power.
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