February 21st, 2024

Non-fixed power price climb, while non-fixed gas price drops

By Medicine Hat News on August 3, 2022.

Rising non-fixed power rates are cause for concern for some southeast Albertans as the region continues to battle daily temperature highs in the 30s, but a decrease in non-fixed gas rates provides some reprieve.

The City of Medicine Hat’s non-fixed utility rates for the month of August show power will be charged at 17.2 cents per kilowatt hour; an increase of 2.4 cents from July’s rate of 14.8 cents. Gas will be charged at $6.68 per gigajoule, a drop from $9.09 in July.

A $50 provincial power credit is helping to offset August’s power rate; the highest so far this year. The credit was first applied last month, and will run until September.

Come October, a potential cap on gas rates could go into effect if prices continue to exceed $6.50 per gigajoule.

Local power rates are determined by averaging Alberta electrical retailer rates, which range from 16.9 cents per from Direct Energy to 17.4 cents from both ENMAX Energy and EPCOR (Edmonton). Likewise, Medicine Hat’s gas rate is the average derived from gas distribution owners Direct Energy, with an August rate of $5.80, and APEX Utilities, with a monthly rate of $7.56.

The city’s 2022 fixed rates remain at 8 cents per kilowatt hour for power, and $4.35 per gigajoule for gas. To access fixed rates, Medicine Hat utility customers must commit to a six-month contract, with option to opt-out after the six-months. Fixed rates are calculated annually.

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