Why it’s time to switch energy suppliers
Energy prices in Canada can vary incredibly from one province to another. The reason why is that almost anything can affect electricity and natural gas rates — from local politics to environmental conditions — so it would be a challenge to find similar costs across such a vast country. Still, whether you live in BC, Ontario or anywhere in between, you can find ways to compare your utility options and find more affordable natural gas and electricity prices in your area.
Canadian households spend around $2,484 on natural gas and electricity bills annually, according to a 2017 Statistics Canada report. Families in Edmonton, for example, can face even higher energy costs. As stated by Fluent Homes, the annual energy costs per family were around $13 costlier in Alberta’s capital in 2007. Be it in Alberta or anywhere else, however, your costs can be reduced by securing yourself more affordable energy plans.
Whether a residential, small business, small commercial, large commercial or industrial customer, reviewing energy providers, as well as their plans and rates, will enable you to pay as little as possible for energy. If you’re still not sure about the upsides of comparing utilities and their services, here are some of the reasons why it’s time to review energy providers in Canada.
Canada is among the largest natural gas and electricity consumers in the world
The world’s energy consumption accelerated in 2018 (around 2.3%), and Canada ranks amongst the top seven largest consumers for both electricity and natural gas, according to the Global Energy Statistical Yearbook 2019 by Enerdata. Since 1990, Canada has been steadily increasing its domestic energy consumption, alongside countries such as the United States, China, Brazil and India.
In 2018, Canada reached 529 terawatt-hours (TWh) of total electricity consumption and a 128 billion cubic meters (bcm) natural gas usage, which placed the country as the eighth largest energy consumer in the world.
All of these huge numbers might not resonate with you, but they indicate that Canadians can spend less on energy. The mix of high energy usage and no energy rate comparison can make your home or business energy expenses much costlier than they could be.
Lower your heating costs before winter starts
Energy costs account for an average of 3% of total household spending in Canada (without gasoline), according to the Energy Costs and Canadian Households: How much are we spending report by the Fraser Institute. That may sound like a reasonable cost, but only until you find out that space and water heating account for around 80% of your house’s energy consumption, as reported by Natural Resources Canada (NRCan). In other words, you can drastically reduce your energy bills by focusing only on cutting down on heating costs.
The first step is to make your heating system as energy-efficient as possible, so you will know that most part of the energy you pay for is used for heating your place, not wasted in the process. However, for those of us who live in one of the coldest countries in the world, you know you will spend a lot on heating even with a highly efficient system.
That’s when comparing energy rates — and finding the cheapest available utility providers — can be really useful and, of course, money-saving. Whether a fixed- or floating-rate energy deal, switching your natural gas provider can slash your energy bills this winter.
Utilities account for a significant part of your monthly costs
Natural gas and electricity costs account for quite a great piece of your monthly expenses, especially when you include gasoline costs in that calculation. According to the Fraser Institute, the average Canadian household spends around 6% of their monthly income on fuel, electricity and natural gas.
When it comes to costs, this percentage means considerably high figures. According to the Survey of Canadian Electricity Bills by Manitoba Hydro, a residential single-month electricity bill in Canada could go around anywhere from $37 to $710, depending on your location and your energy usage.
Average numbers don’t always correlate with your day-to-day life, but something they quickly demonstrate is that we shouldn’t overlook utilities. Such expenses can account for a significant part of your living costs, especially when you live under extreme weather, be it hot or cold.
If you think about in the long term, it can get even more alarming. After years and decades, for example, you could lose or save thousands of dollars depending on your choices and the energy providers you’ve signed up with.
You can compare utility providers and their rates in Canada
Provincial energy markets in Canada are noticeably different one from one another. However, plenty of them have something in common: You can choose your energy provider.
Of course, there is a wide range of possibilities in each market. Alberta, for example, is the least-regulated energy market in the country, which lets you switch both your electricity and natural gas providers. The other provinces, such as Saskatchewan, Ontario, BC and Manitoba, are more deregulated when it comes to natural gas.
In deregulated markets, consumers have the freedom to choose not only their utility retailers, but also the suitable plans and rates — and comparing energy rates is one of the best ways to find the cheapest energy plans from the best power and natural gas suppliers.
Compare energy plans near me: If you’re looking to compare natural gas and electricity rates in your region, and switch energy suppliers, EnergyRates.ca will be useful for you. The website is an objective, free energy cost comparison tool that lets you search for the cheapest available energy companies according to your postal code, be it residential or commercial.
Whether you are in Alberta, British Columbia, Manitoba, Ontario or Saskatchewan, you can compare natural gas and electricity plans from major providers, including ATCO, ENMAX, EPCOR, Direct Energy, Just Energy, RiteRate Energy, Union Gas, FortisBC, Planet Energy and many more.
At EnergyRates.ca, small business, small commercial, large commercial and industrial energy consumers can get a free custom quote based on their energy usage. This will detail the best available energy providers, plans and rates for your commercial facility.