Electricity - Ontario
"MARKET WATCHER" Market Rate Program
At this time, our market view is that it is not in your best interest to join a long-term fixed rate electricity program. We recommend that you consider our Market Rate electricity program. We will continue to monitor the electricity market and will let you know when we feel it is time to lock your electricity price into a Fixed Rate program. We will be your “Market Watcher”.
Why Market Rate?
For many, views on electricity programs are similar to those on mortgages; when rates are low, most prefer to have a variable rate, and when rates start to climb, most prefer to lock into a fixed rate. Current economic conditions with falling markets suggest that a variable rate, or Market Rate electricity program, is your best option.
* This recommendation is based on the information available to FireFly Energy in July 2010. Deciding to enter into a contract should be considered carefully. Verify the information provided at www.ieso.ca, www.oeb.gov.on.ca and competitor offerings at www.energyshop.ca.
Once in FireFly Energy’s Market Rate electricity program, it is easy to switch to other FireFly electricity offers. Should our view of the electricity market change, we will then offer a Fixed Rate Electricity program, so watch for FireFly’s mailings and be ready to act quickly to receive the best pricing.
Averaged over the year, our Market Rate program tends to offer a financial advantage when compared to the two tiered Regulated Price Plan (RPP) pricing. This is the pricing you are charged by your local distribution company (LDC) if you have not contracted your electricity with a retailer, such as FireFly Energy, and if you are not yet paying Time-of-Use rates.
Market Rate Explained
Should you choose our Market Rate electricity program:
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If you are do not have an activated Smart Meter or Interval Meter, your electricity commodity charge per kWh will vary each month, as it will be set by the market price. Although the price will fluctuate each month, you will pay one price for each kWh used within that month.
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If you have an activated Smart or Interval Meter, your Smart or Interval Meter will continue to track and record your hourly usage precisely as it was intended do. However, the rates you will pay for that usage will be the actual wholesale electricity rates in the Ontario Marketplace during each hour of the day for the exact amount of kW’s you used during that hour (electricity rates in the Ontario Marketplace change on an hourly basis), instead of Time-of-Use rates set by your LDC.
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You will continue to receive your bill from your LDC. On your bill, you will see FireFly Energy’s name near the electricity commodity charges.
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You will be signed into a 5 year contract, however FireFly Energy allows for a penalty-free exit every year.
Rebates and Benefits
In the past, consumers who had contracted their electricity with a retailer received an ONPA rebate provided by the Ontario government. This program has been discontinued, so ONPA rebates no longer apply. Also, as a customer of FireFly Energy, or any other electricity retailer, your price per kWh is affected by the Provincial Benefit. It is shown as a separate line item on your bill. This adjustment accounts for differences between the market price and rates paid to generators. The Provincial Benefit may be a credit or a charge. Since early 2006, the Provincial Benefit has been a charge, or an increase to your bill.
Why FireFly Energy
Firefly Energy is committed to serving your energy needs.
Be assured that we will keep you informed of upcoming opportunities. Feel confident in the information you receive from FireFly Energy to help you make an informed decision on your own.