Gas, electric, wind energy rates set for February

Medicine Hat - The City of Medicine Hat has set its February energy commodity rates.

Natural Gas – all customers

The February natural gas default regulated rate (RRO) is $5.218 per gigajoule (GJ), down from the previous month of $6.117 per GJ. The rate is based on the weighted average 120-day buying window price for the forecasted volume.

The first quarter fixed contract natural gas commodity offering is $6.607 per GJ. Customers who sign a fixed contract between January 1 and March 31, 2023, are guaranteed this fixed rate for 12 billing cycles (months).

The January variable contract offering is based on the AECO (Alberta Energy Company) average market reference price plus $1.00 per GJ. The January rate is $4.536 per GJ (including the $1.00 premium). The rate for February will be released March 1, 2023.

Electricity – Residential, Farm, Small and Medium Commercial, Unmetered Services and Rental Lighting

The February electricity default regulated rate (RRO) for Residential, Farm, Small and Medium Commercial, Unmetered Services and Rental Lighting customers is $0.31914 per kilowatt hour (kWh), up from the previous month of $0.28639 per kWh. The rate is based on the average of the rates for owners whose regulated rate tariffs are approved by the Alberta Utilities Commission under section 103(2) of the Electric Utilities Act for that calendar month as posted by the Alberta Utilities Commission on its internet page under Regulated Rate Option Regulation.

On December 15, 2022, the Government of Alberta passed The Regulated Rate Option Stability Act through Bill 2: Inflation Relief Statutes Amendment Act which places a temporary price ceiling of $0.13500 per kilowatt hour in January, February and March 2023 for Albertans who purchase power on the Regulated Rate Option (RRO). The price difference between the temporary ceiling and the calculated monthly regulated rate will be deferred and then charged over a 21-month recovery period from April 1, 2023, to December 31, 2024.

The first quarter fixed contract electricity commodity rate offering is $0.17653 per kilowatt hour. Customers who sign a fixed contract between January 1 and March 31, 2023, are guaranteed this fixed rate for 12 billing cycles (months).

The February variable contract rate for Residential, Farm, Small and Medium Commercial, Unmetered Services and Rental Lighting customers is based on the monthly average Alberta Power Pool price as established and published by the Alberta Electrical System Operator (AESO) plus $0.02 per kWh. The January variable rate is $0.14613 per kWh (including the $0.02 premium). The rate for February will be released March 1, 2023.

Electricity - Large Commercial, Industrial and Street Lighting Customers

The February default electricity rate for Large Commercial, Industrial and Street Lighting customers is based the regulated rate option of $0.31914 per kilowatt hour.

The February variable contract electricity rate for Large Commercial, Industrial and Street Lighting customers is based on the monthly average Alberta Power Pool price as established and published by the Alberta Electric System Operator (AESO) plus $0.02 per kilowatt hour. The rate for January is $0.14613 per kWh.

Going Green Charge

Customers also have a “Going Green” surcharge on their bill. This surcharge is for renewable energy purchased for residential, farm, small and medium commercial customers.

The Going Green surcharge is calculated monthly to recover costs incurred to purchase renewable energy.

The Going Green surcharge for February is $0.0005 per kilowatt hour.

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For further information, please contact:
media@medicinehat.ca