Be aware of the details for any energy contracts that are offered to you.
Has an energy retailer ever approached you at your home? Before you enter into an energy contract for your electricity or natural gas, be sure to do your homework. Compare prices, and read and understand what you are agreeing to.
You have a choice. You may decide to enter into an energy contract with a licensed energy retailer or you can purchase your electricity or natural gas from your utility. Your home or small business will continue to have natural gas or electricity whether or not you enter into an energy contract. With, or without, an energy contract, you will be eligible for conservation and other programs from the government or your utility.
There are new rules that apply to energy contracts and how energy retailers deal with residential and small business consumers. We encourage you to visit the Ontario Energy Board for the most up-to-date rules on dealing with an Energy Retailer. Here are a few quick links:
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Energy Contracts – Overview
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Before Signing Up
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After You Sign Up
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Nearing the End of a Contract
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Current Licensed Retailers
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Bill Calculator – Find out if you’re going to save money with a retailer.
KEY POINTS
- The image above shows the average totals for a 800kWh monthly residential user. In order for a retail contract to be slightly lower that the non-retailer bill, they would need to offer a rate of 2.1 cents per kWh. This amount will vary. We encourage you to use the OEB’s Bill Calculator to compare bills.
- Retailers can’t sign you up for a contract at your home. There are limitations on when they can come to your home.
- Savings are not guaranteed. Do your homework.
- You will be charged the Global Adjustment as well as your contracted rate. The Global Adjustment in 2017 ranged from 7.14 to 12.31¢/kWh.
- You must receive a copy of your contract and confirm receiving it to come into effect.
- You have a 10-day cooling-off period to review your decision.
- You can also cancel your contract without a cancellation fee up to 30 days after you receive your second bill under the contract.
If you’re not sure what to do, call our office at 905-468-4235. We can help you make an informed decision.