Default power price remains at near-record highs in September

By MEDICINE HAT NEWS on September 2, 2022.

https://www.medicinehatnews.com@MedicineHatNews

The default price for power in Medicine Hat will remain at near-record highs in September, according to rates published on Thursday morning.

Utility customers not on fixed pricing will pay 15.8-cents per kilowatt hour this month, down from 17.2-cents in August, while natural gas also remained comparatively high.

Prices for the heating fuel have remained very high this summer as utilities in the province sought to recuperate losses when winter and spring prices rose above forecasted costs.

The city’s default rate, which is based on the average charged across the province, sits at $7.21 per gigajoule in September. That’s up from the same rate in August ($6.68), and well above the fixed price option of $4.35.

The city’s fixed power commodity rate is 8-cents per kilowatt hour in 2022.

Across the province, default (or “regulated rate option”) prices ranged from 16.2-cents in Epcor’s Edmonton service area, to 15.3-cents from Direct Energy.

Two comparable gas prices were $6.15 from Direct and $8.28 from Apex utilities.

Local fixed rates are determined at the beginning of each calendar year.

The rate is charged on the commodity portion of the bill against consumption. That causes billed amounts to vary.

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