April 13, 2016 – Electricity falls to zero
The price for electricity fell to zero today because too much energy is being produced. This just in from Alberta Electric System Operator (AESO).
That is right.
Customers on a Floating Rate Energy Plan actually paid zero dollars for electricity in the early hours this morning. In the last 24 hours, the Power Pool average price was below $10 per MWh.
Here’s how the numbers compare.
In 2013, the average Power Pool price was $80 /MWh
The price fell to $50 in 2014
By the end of 2015, the rate continued to slide to $33/MWh
The YTD average in 2016 is down a further 50% and, today, it dropped to zero. The average over the last 30 days is under $15/MWh.
What does this mean for consumers? The Floating Energy Rate charged by independent retailers in Alberta is in the range of 2 ½ to 3 cents per kWh.
At the same time, the cost of Green Energy is only 1.66 cents per kWh.
With the drop in the economy of Alberta, the demand for electricity is down and there is surplus generation available. The net result is lower prices for consumers. This will not last forever but, today, here’s what you get and into the foreseeable future: If you want to lower your utility bill, switching over to the Floating Rate makes a lot of sense. At the same time, you can afford to “Buy Green” and help green the grid.
How you take advantage of this opportunity: Simple. Here is a list of retailers in Alberta that are offering very, very low electricity prices and an option of going green. This can be done through Burst Energy!
Going Green has never been simpler and never this affordable.
Even if you only green 15 to 30% of your consumption, it will cost the average home owner and a household of 4 about 5 to 10 cents per day.
If you are paying 7 or 8 cents per kWh to the big utilities or are still on the government regulated rate – now is the best time to switch to Burst Energy!
Written by: Nick Clark