Rite Rate, should I renew?

stratusnine wrote: ↑

Jan 25th, 2010 10:36 pm

Has anyone followed up with gas rates?

My contract is about to expire with Riterate and I'm not sure if I should renew.

I have heard the gas rates are on a downwards trend but for how long. Would it be better to lock in for 5 years?

Any help appreciated.

IMO, the short answer is no especially if they don't actually give you a better rate for renew than its posted rate.

Their current 5 year fixed is 28.6 while the current market rate is 12.92. That is more than double.

I'm not sure where you got that number.
In Ontario, Enbridge is showing 19.9690 ¢/m³

https://portal-plumprod.cgc.enbridge.co ... ached=true

I have never heard anything positive come from locking in at a higher rate and speculating that prices will soar to the moon. At least that's the pitch those pesky door sales people use.

Check out http://www.energyshop.com/es/prices/ON/ ... ?ldc_id=2&
you can see who has the lowest rates... looks like www.myrateenergy.ca has the lowest rate at the moment.

the actual rate being billed rite now by enbridge is 19.8615c minus 6.9075c
making the total effective gas supply rate 12.9540c/m3

Does rite rate charge extra monthly fees like Enbridge does, or is it all factored into that 28 cent charge?

stratusnine wrote: ↑

Jan 25th, 2010 10:36 pm

Has anyone followed up with gas rates?

My contract is about to expire with Riterate and I'm not sure if I should renew.

I have heard the gas rates are on a downwards trend but for how long. Would it be better to lock in for 5 years?

Any help appreciated.

DONT DO IT!
I am with them now, locked in for another 3.5 years at 39.9...how crazy was I? It is the only time I have done something this stupid...but I live with it. Never again. Pay what the market costs are, you will always be ahead. Don't do what I did and buy into the scare tactics that gas prices would only go up, up, up which was part of their sales pitch. Me stupid, you smart...ok?

Halifax55 wrote: ↑

Feb 5th, 2010 8:23 pm

DONT DO IT!
I am with them now, locked in for another 3.5 years at 39.9...how crazy was I? It is the only time I have done something this stupid...but I live with it. Never again. Pay what the market costs are, you will always be ahead. Don't do what I did and buy into the scare tactics that gas prices would only go up, up, up which was part of their sales pitch. Me stupid, you smart...ok?

Aww, I feel bad for you but I can't help but laugh after reading your message. It's just so funny.

Also just doing some price comparison it looks like the price listed on rite rate website http://www.riterate.ca is higher than the one listed on energyshop. http://www.energyshop.com

well enbridge just raised their rate to 21.1 bringing it very close to the 23.3 posted by myrate...

Surely you must realize that gas prices have been depressed due to the econmic downturn and that with an increase in manufaturing again over the next few years, that prices are likely to start going back up?

23.3 is lower than the actual price has been for most of the last 10 years.

am considering locking in as i think the rebound of the economy will help spur gas prices back up somewhat? Also this big jump up in price may soon show in on the gas retailers raising their prices?

just some thoughts...

Yes enbridge may have raised their rates a bit because natural gas did jump from under $3 in the fall to $6 in Feb, but the price is back around $4 again so next price adjustment will likely be lower again. There is tons of natual gas around and with the warm winter we just experienced inventories are going to be at record highs this summer so the price is only going to go lower in the next few months. Thats my predication anyways and only that... time will tell.

http://www.theglobeandmail.com/globe-in ... y/?q=NG-FT

KIngMufasa wrote: ↑

Apr 12th, 2010 11:07 pm

well enbridge just raised their rate to 21.1 bringing it very close to the 23.3 posted by myrate...

Surely you must realize that gas prices have been depressed due to the econmic downturn and that with an increase in manufaturing again over the next few years, that prices are likely to start going back up?

23.3 is lower than the actual price has been for most of the last 10 years.

am considering locking in as i think the rebound of the economy will help spur gas prices back up somewhat? Also this big jump up in price may soon show in on the gas retailers raising their prices?

just some thoughts...

hmm those are some good points, is enbridge really that delayed in making the price adjustments? wow...

found the link for inventory levels http://ir.eia.doe.gov/ngs/ngs.html

cheers

km

Just read that MyRate charge 6.2 cents for delivery - compared to 4.66 from Enbridge.