by Shawn Crowle
Big changes are on the horizon for Alberta’s electricity market. As of January 1, 2025, the current Regulated Rate Option (RRO) will become the Rate of Last Resort (RoLR), brining a new approach to how we manage our electricity costs. If you’re wondering what this means for you and how you can prepare, we’ve got you covered!
What’s the Rate of Last Resort All About?
The RoLR is designed to be the new, default rate for consumers who haven’t signed up for a guaranteed rate with a competitive electricity retailer. It’s intention is to make things simpler and more predictable fro folks who might find the retail energy market a bit overwhelming. With the RoLR, you can expect a more stable pricing structure that will help ease the worries around fluctuating electricity costs.
One of the key differences of the RoLR is that it will be fixed for two years, with any price hikes capped at just 10%. This way, you won’t be caught off guard by sudden spikes in your electricity bill.
What Changes Can You Expect?
- Clearer Bills: When the RoLR kicks in, your utility bills will clearly state if you’re on this new rate and outline other available options. This transparency will make it easier for you to see what you’re paying and make informed choices.
- Regular Updates: You’ll also receive a check-in every 90 days from the Utilities Consumer Advocate to discuss your rate options.
- More Stability: The RoLR aims to create a more stable pricing environment, helping to shield you from the unpredictability that came with the RRO.
How to Prepare.
With the RoLR set to take effect at the turn of the year, here are some friendly tips to help get ready:
- Check Your Current Rate: Take a moment to review your current rate plan. Knowing where you stand will help you understand how the transition may or may not affect you.
- Consider Your Options: While the RoLR provides a better safety net than the RRO did, it’s also a great time to explore fixed rate options with competitive electricity providers. With a little research, you might discover a rate that better suits your needs.
- Tap Into Resources: The Utilities Consumer Advocate is a fantastic resource that can help you navigate the retain energy market, and don’t forget that our team is right here in the community! Give us a call at (780) 781-4115 and let us help you choose the option best suited to you and your unique needs.
Why Consider a Guaranteed Rate with Camrose Energy?
Switching to a guaranteed rate can bring a range of benefits:
- Budgeting Made Easy: With a guaranteed rate, you’ll know exactly what your electricity costs will be based on your usage, helping you plan your budget without any surprises., and though the price of the RoLR has not been decided yet, it’s sure to be higher than current Guaranteed Fixed Rates.
- No Contracts, No Hidden Fees: At Camrose Energy, we believe in transparency. There are no contracts, no hidden fees, and no penalties for switching between rates. This means you can choose the plan that suits you best without any worries!
- Experience The Difference Small-Town Service Can Make: With us, you’re not just another account number; you’re a neighbor. Our friendly, local team is here to provide personalized service that makes you feel valued and heard. We take pride in our community connections and are always ready to help you find the best energy solutions for your home.
By staying informed and exploring your options, you can make the best choices for your home and budget. And remember, the Camrose Energy is always there to lend a helping hand. Here’s to a brighter, more predictable energy future for us all!
