Since the deregulation of the energy market, Manitoba hydro consumers have had a number of providers to choose from for their various energy needs; however, they’ve also had a number of different types of options. These options include residential natural gas retailers, commercial natural gas retailers, and regulated energy providers. Knowing the different benefits of each can help you make the decision that will benefit you the most when it comes to choosing your provider. Here’s what you need to know about the regulated energy market in Manitoba to get you started.
What is the regulated rate option?
Since 1985, when the Canadian government began deregulating the energy market across the country, homeowners and business consumers of Manitoba hydro have been able to opt for commercial providers at competitive prices for some of their energy needs, but there are benefits to choosing the regulated rate option. The regulated rate option, or RRO, acts like a safety net, providing a baseline price that can protect consumers from the rate spikes that would otherwise impact them. When you choose the regulated rate option, you sign a contract for a specified term with your provider, and in exchange, you gain access to a stable (and budgetable) rate.
Who can you access your Manitoba hydro regulated rate through?
While, at one time, there were several regulated rate providers in Manitoba, now Manitoba Hydro’s expansion of its services has resulted in the incorporation of a number of utilities into the operation of the Crown Company. Today, Manitoba Hydro is the sole provider of regulated energy.
Why choose Manitoba Hydro?
Manitoba Hydro became the Crown Corporation in 1961, since which time it has been mandated with fulfilling the province’s electricity and natural gas needs. While it is the sole provider of electricity in the province, the company does not set its own rates (so you don’t have to worry that the lack of competition is driving your hydro rates to unaffordable levels). Manitoba’s hydro rates are instead regulated by the Public Utilities Board of Manitoba (PUB), which adjusts electricity rates once a year (in August) based on calculations that take supply and demand into account. Natural gas rates are likewise adjusted on a quarterly schedule. What are the benefits of choosing Manitoba Hydro? Manitoba Hydro currently serves 580,262 electric and 281,990 natural gas consumers. It’s also one of the lowest cost electricity providers in all of Canada because most of the electricity it provides is offered by hydroelectric power generating stations. Manitoba Hydro also encourages energy savings through demand side management and offers a number of different energy efficiency programs.
Does this mean you don’t have any options?
Not at all. Manitoba’s provincial regulations allow a number of commercial firms to offer alternative retail natural gas services. Currently, Manitoba hydro consumers who are looking for more competitive options can opt for a number of different commercial and retail natural gas options.
Looking for more information about your options?
Click here for more information about the energy services that are available in your specific region, and visit Manitoba Hydro’s website for more information about its energy efficiency programs and incentives.