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By City of Medicine Hat

October gas and electric rates released

Oct 3, 2023 | 1:39 PM

Medicine Hat, AB–The City of Medicine Hat has released its gas, electric, and wind energy rates for October and there has been a decrease if the default regulated rate.

The October natural gas default regulated rate (RRO) is $2.495 per gigajoule (GJ), down from the previous month of $2.849 per GJ.

The rate is based on the average of the monthly gas charges set by Alberta gas distribution (pipes) owners. The City of Medicine Hat calculates the Monthly Reference Price based on the average of the rates approved by the Alberta Utilities Commission.

The fourth quarter fixed contract natural gas commodity offering is $3.950 per GJ. Customers who sign a fixed contract between Oct. 1 and Dec. 31, 2023 are guaranteed this fixed rate for 12 billing cycles (months).

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The variable contract offering is based on the AECO (Alberta Energy Company) average market reference price plus $1.00 per GJ. The September rate is $3.434 per GJ (including the $1.00 premium). The rate for October will be released Nov. 1, 2023.

The default regulated rate (RRO) for electricity for Residential, Farm, Small and Medium Commercial, Unmetered Services and Rental Lighting customers is $0.17293 per kilowatt hour (kWh). That is down from the previous month of $0.25068 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 Dec. 15, 2022, the Government of Alberta passed The Regulated Rate Option Stability Act through Bill 2: Inflation Relief Statutes Amendment Act which placed 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). As of April 1, 2023, the cost difference between the RRO electricity rate from January to March 2023 and the temporary price ceiling will be added to the current RRO to recover costs until December 2024. The October recovery rate of $0.01637 per kWh will be added to the current RRO rate of $0.17293 per kWh for a total billable rate of $0.18930 per kWh. For more details about the recovery rate, visit medicinehat.ca/RegulatedRate.

The fourth quarter fixed contract electricity commodity rate offering is $0.11686 per kilowatt hour. Customers who sign a fixed contract between Oct. 1 and Dec. 31, 2023 are guaranteed this fixed rate for 12 billing cycles (months).

The 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 September variable rate is $0.13174 per kWh (including the $0.02 premium). The rate for October will be released Nov. 1, 2023.

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