Enmax fixed electricity rate...still good?

[GoChris]

So for all last year and early this year, having the $0.08 locked in rate was good. But I just noticed that even a couple months earlier this year, and for the past couple months up to and including November, the electricity rate has been less than $0.08.

Should I switch? Since I still have the option of locking in, I could in theory watch it and switch back at anytime, no?

Saving money for me right now would be very good.

Edit: Link to the historic rates, https://www.enmax.com/Power/Tariffs/...ergy+Rates.htm

[Davetronz]

I got majorly screwed over by their fixed rate plan. I neglected to look at the current price of natural gas (and Enmax sure as hell didn't call me to say they were ripping me off) so I ended up paying 3x the price I should have been paying for about 6-12 months.

Buyer/Consumer beware I guess. I don't blame them, they're in the game to make money. An expensive lesson learned.

[ppatko]

Generally speaking...

Enmax/Direct energy are huge fans of locking people in for any amount of time.

Cold calling, sending reps door to door even.

No matter how great the deal/offer appears to be, they have no interest in saving you money.

I've never heard anyone say "wow! I'm so glad i locked in for..."

[stevelou]

The difference between enmax and direct energy is that there are no penalties when you want to cancel with Enmax. Where as Direct energy is as bad as a cell phone company when you want out

[codetrap]

I locked in my electricity for 5c/kwh, and left my NG floating. Still working for me.

[Kloubek]

When one moves to a new house, all bets are off for locked in contracts right?

[whiskas]

If you go with enmax you use their easymax plan to lock in. As far as I know, you can opt out, or relock your rate with no fees or penalties at all as long as you give them one month notice.

So if you're on easymax, just switch to the variable rate, and when you see it starts to go about the variable rate, change back to fixed.

[Kartelli]

if you can secure 5-6c/kwh your in great shape all year around. Right now with natural gas in nowhere near demand, leaving it floating will land you in some good pricing for this time of year.

For the 2010 fiscal year, leave ng floating.

[GoChris]

Unfortunately the only rate to lock in for Electric is 8c, not 5c. So I might leave it because it will probably go above for the winter, but I'll watch it for the spring. If I could lock in for 5c ya that'd be best. Wonder if I call them if I could change it.

[RawB8figure]

I just locked into the electricity at 8 cents today. The floating rate is at 7.3 something and rising. But I am using the floating rate for gas as it is almost half of the fixed rate.

[Mitsu3000gt]

I just locked in at 8c as well. I'll re-lock in again after the winter after prices settle back down.