When it comes to the utilities of gas and water that you get in Canada, things work a bit differently here than other countries. You get to choose between two different types of options when you are choosing to buy electricity and gas supplies for your home. You can go for either a regulated market supplier or deregulated (or competitive) market supplier for your utilities.
For the people living in Alberta, depending on where you live, you can opt for either one of these options. You can choose to stay with the regulated rates for the utilities or go for the suppliers that are supplying competitive rates. Let’s take a look at the two to help you better understand the decision you need to make.
Choosing How to Buy Energy in Alberta
Regulated Market Retailers
The regulated energy market in Alberta is basically going to see you billed for the electricity and gas supply to your home on a monthly basis. The rates will differ every month. If you are going to choose to go with regulated services for both utilities, you will receive separate bills for both the electricity and the natural gas supply every month.
For the people who are new customers, the Alberta energy has to offer needs to be first connected using a retailer from the regulated market. Once the connection for both the gas and electricity supplies have been made, you can opt to stick with this or choose to go for the competitive market retailers.
Benefits of Choosing Regulated Market Retailers
There are several benefits you can potentially avail when you choose the services of regulated market retailers in Alberta:
- There aren’t any early exit fees involved when you cancel the services of regulated market retailers because you’re not signing any contract with them for the utilities.
- The rates always match the most current market price for both utilities.
- If there is a drop in price, you get to share in the savings with lower costs.
- There are no sales tactics involved by retailers.
- There are no marketing rates attached to the prices.
Drawbacks of Choosing Regulated Market Retailers
While there are plenty of benefits that regulated market retailers have to offer when you choose them for energy supplies in Alberta, there are some minor drawbacks involved as well:
- Since the prices reflect the most current market rates, the prices can fluctuate on a monthly basis. This means your costs for utilities every month become less predictable.
- There is the chance of higher volatility in the rates of regulated markets which can see incredibly low rates one month and the price can suddenly spike in the next.
- There is no availability of bundles through the regulated market retailers.
Competitive Market Retailers
The competitive market retailers require you to sign a contract with them so that you can receive their electricity and gas services. When it comes to the Alberta energy provides to its residents, the competitive market retailers are the peculiarity they have.
You agree on certain terms about the rates and the duration of the terms in the contract you sign. The rates could be variable, fixed or even a mixture of both. When you sign your contract with the competitive market retailers in Alberta, you’re going to receive an overall bill for both the electricity and the natural gas supply to your home.
Benefits of Choosing Competitive Market Retailers
While the aspect of signing a legally binding contract is there with competitive market retailers, there are several benefits you stand to gain through availing their services:
- The contracts you sign will give you peace of mind when it comes to the rates you have to pay for a specific term.
- Utilizing fixed price contracts with competitive market retailers means that you get protection from any short term spikes in energy rates.
- Retailers always try to give you incentives to sign you up.
- You can easily bundle both the utility bills through competitive market retailers
- There are several retailers that offer you cost savings for bundling the energy services.
Drawbacks of Choosing Competitive Market Retailers
As good as it may be, competitive market retailers do have some minor drawbacks:
- You need to see the term of the contract you sign with them.
- Some retailers charge early exit fees if you end the services before the contract ends.
- You might have to pay higher than the current market price in case there is a drop in prices and you’re on a fixed rate contract.
Homeowners in Alberta looking to avail the best options for their utilities in their homes have the option of choosing. Weighing the pros and cons of both clearly indicate that the Competitive Market Retailers offer you a lot more convenience when it comes to the services they provide.
Retailers like Direct Energy offer unbelievably easy to use bundles for the utility supplies you can get for your home in Alberta. There are several options for you to choose from when it comes to the package you want to avail and the prices.
Signing up for the services by Direct Energy is also pretty easy. All you have to do is enter your postal code, check out the rates that they provide in that area, compare the options and choose the best one for your needs. Once you’ve decided on the plan you want to go for, all you have to do is complete the signup process and you can avail their services.