Personal Finance

Rite Rate, should I renew?

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  • Jun 30th, 2015 5:43 pm
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Jr. Member
Aug 5, 2006
146 posts
1 upvote

Rite Rate, should I renew?

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.
26 replies
Deal Expert
User avatar
Jun 14, 2003
23140 posts
173 upvotes
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.
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Deal Addict
May 31, 2007
3036 posts
195 upvotes
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.
Newbie
User avatar
Sep 22, 2007
14 posts
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
Deal Guru
Mar 23, 2009
11444 posts
1439 upvotes
Toronto
Does rite rate charge extra monthly fees like Enbridge does, or is it all factored into that 28 cent charge?
Sr. Member
User avatar
Aug 31, 2008
512 posts
171 upvotes
Barrie
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?
Newbie
Jan 24, 2010
12 posts
Calgary
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. :lol:
Deal Addict
User avatar
Sep 7, 2004
2816 posts
310 upvotes
GTEH!
taxmasta wrote:
Feb 5th, 2010 7:49 am
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
+1.

IMO, don't lock yourself into a 5 year contract, unless you have $$$ to burn. :D
😎
Sr. Member
Jun 3, 2005
524 posts
30 upvotes
Toronto
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...
Member
Dec 10, 2006
271 posts
1 upvote
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...
Deal Fanatic
Dec 11, 2003
7708 posts
243 upvotes
Just read that MyRate charge 6.2 cents for delivery - compared to 4.66 from Enbridge.
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