What is the difference between the Regulated Price Program and the FRPO electricity program?
The Regulated Price Program is a government regulated program and is either the Time of Use or the 2 Tier program. The government determines what these prices will be every 6 months. The FRPO program offers the opportunity to purchase your electricity at market prices. With the FRPO program you have the opportunity to fix price on a portion of your volume or stay on the Hourly Ontario Electricity Price (H.O.E.P.)
How is the Hourly Ontario Electricity Price (H.O.E.P) calculated for billing?
The H.O.E.P is set each hour. The price on your bill is a combination of the price each hour and your consumption in that hour. These 2 items are calculated each month to determine your electricity supply cost.
Will I see any additional charges on my invoice?
Yes, when you move to the FRPO electricity program you will see an additional line item on the invoice called the Global Adjustment.
What is the Global Adjustment (GA)?The global adjustment covers the difference between the market price for electricity and the rates paid to companies under the guaranteed revenue contracts. As the market price falls, the global adjustment rises. For RPP consumers, the cost of the global adjustment is hidden because it is rolled into the electricity rate set by the province’s energy regulator.
Will I receive another Electricity invoice?
No, you will continue to receive your electricity invoice from the utility. The electricity supply price will be listed as a one line item for the total supply cost for the billing period. The name of ECNG will appear in the body of the bill with a contact number.
Will the price on my utility bill change each month?
Yes, your electricity supply price on the FRPO program will change slightly each month as the market price changes.
How will I know if the program will save me on my electricity costs?
Prior to your enrollment into the program, ECNG will provide an analysis of your historical costs on the RPP either Time of Use or 2 Tier versus what you would have paid on the FRPO electricity program, Including the Global Adjustment costs.
What is the fixed price option?
With the FRPO program you will have the opportunity to fix your price on a portion of your consumption volume. This option will vary from time to time based upon the current hedge price offered by suppliers. Generally we would fix price on a portion of your peak consumption (Mon. to Fri. 7:00am to 11:00pm) or fix price on a combination of Peak and Base (7 day per week, 24 hours per day) consumption.
What is the difference between On-Peak power prices and Off-Peak power prices?
On-Peak power prices occur 5 days per week (Monday to Friday) 16 hours per day (7am to 11pm). On-Peak times are when demand for electricity in the province is at the greatest. Off-Peak times are every other hour of the day including weekends and holidays. Off-Peak times are also referred to as ‘base load’ times of use.
How is the hedge volume determined for my account?
Once we have your enrollment we will get your historical consumption from the utility. This is then run through a program that will determine the best hedging (fixed price) strategy for your location or locations.
Where can I get more information?
Contact Matt Honchar at ECNG Energy L.P. at 905-635-3274 or firstname.lastname@example.org.
Case Studies showing cost analysis and savings projections can be found here.