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By Chris Brown

Electricity and natural gas rates rise for August

Aug 1, 2023 | 10:06 AM

MEDICINE HAT, AB – The cost of both electricity and natural gas is going up this month for City of Medicine Hat utility customers on the default rate.

The new rates were released on Tuesday.

The August electricity default regulated rate (RRO) for Residential, Farm, Small and Medium Commercial, Unmetered Services and Rental Lighting customers is $0.29673 per kilowatt hour (kWh), up from the previous month of $0.24924 per kWh.

The RRO is set between the high price of $0.29845 set by Epcor (Edmonton) and the low of $0.29497 set by Epcor (outside Edmonton).

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Customers on the RRO will actually be billed $0.30506 per kWh due to the additional recovery rate of $0.00833 per kWh. The recovery rate is needed due to the removal of a temporary price cap and deferral system the province installed for January, February and March and the subsequent recovery of those funds.

The funds that were deferred in the first three months of this year will be recovered over the next 21 months until the end of 2024. For more details about the recovery rate, visit medicinehat.ca/RegulatedRate.

READ MORE: Utility Options and Rates

The third quarter fixed contract electricity rate is $0.16944 per kilowatt hour. Customers who sign a fixed contract between July 1 and Sept. 30 are guaranteed this fixed rate for 12 billing cycles (months).

The July variable rate is $0.17500 per kWh (including the $0.02 premium). The rate for August will be released Sept. 1, 2023.

Natural gas

The August natural gas default regulated rate (RRO) is $3.215 per gigajoule (GJ), up from the previous month of $2.448 per GJ. The rate falls between the $3.368 set by Direct Energy and the $3.061 set by Apex (formerly AltaGas).

The third quarter fixed contract natural gas rate is $4.226 per GJ. Customers who sign a fixed contract between July 1 and Sept. 30 are guaranteed this fixed rate for 12 billing cycles (months).

The variable contract offering is based on the AECO (Alberta Energy Company) average market reference price plus $1 per GJ. The July rate is $3.354 per GJ (including the $1 premium). The rate for August will be released Sept. 1.

by Chris Brown