What to know about the Easymax floating electricity rate
With Easymax, you can choose between a fixed or floating electricity rate. Here’s how the floating rate works and what you should know.
This article explains the Easymax® floating electricity rate available to residential customers starting November 17, 2024. If you are curious about how it is different from the previous Easymax floating electricity rate and why the floating rate option changed go here.
What is the Easymax floating electricity rate?
The Easymax floating electricity rate is indexed to the hourly market price of electricity in Alberta also known as the power pool price. When that market prices goes up and down, the floating rate goes up and down with it.
This graph is an example of how the rate can fluctuate. It shows the average of all hourly rates for each month across a two-year period.
You can see the hourly pool prices as well as the 30-day average at ets.aeso.ca.
What might cause the rate to change?
Rate changes are based largely on supply and demand.
When demand goes up, prices can go up and vice versa. Demand goes up with cold snaps and heatwaves when furnace use and air conditioner use is higher, for example. Milder weather can keep prices lower.
Supply can be affected by events like wildfires or storms. Changes at generation facilities could also impact supply. When supply is low, prices are higher.
Will I know my rate ahead of time?
No. Hourly rates are measured throughout the month to create a monthly billing average. Those rates are matched to your usage patterns, customer-type profile, and the hours in your billing cycle. Your overall rate isn’t calculated until the end of your billing cycle.
What does this look like on my bill?
Your bill shows the number of kilowatt hours you used and your average rate for those hours.
There is also a transaction fee of 1.99¢/kWh.
Here’s an example of how it will appear on your bill:
Who should choose a floating rate?
The floating rate might be an option if you like to watch the market, are comfortable with ups and downs, and are okay with waiting until you get your bill to see the rate you paid.
If you prefer stability and predictability, the Easymax fixed rate is a better fit.
How do I change my rate?
With Easymax, you can change your plan once per month without penalty, including switching between available fixed and floating rates.
Make changes in your account online by selecting manage my plan in the manage my services section.
Our customer care team can also help over live chat or phone.