More people choosing the fixed utility rate option. (CHAT News File Photo)

By Brian Konrad

680 new sign-ups last week alone

Fixed-rate utility option becoming more popular

Oct 26, 2021 | 12:37 PM

MEDICINE HAT, AB — The option of locking in rates for natural gas and electrical utilities has been drawing renewed attention, now that the fixed-rate options are cheaper than the monthly market rates in Medicine Hat.

The city says it had 680 new fixed-rate contracts last week alone, as people moved to lock in the lower rates for the rest of this year.

The fixed-rate for natural gas is $3.50 per gigajoule, compared to the October monthly rate of $4.02.

The city’s fixed rate for electricity is 6.8 cents per kilowatt hour, compared to the monthly rate of almost 10.6 cents.

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Denise Schmaltz is the manager of customer care and billing for the city, and says making the change is as easy as filling in a quick application form on the city website, where you can also see a comparison of the fixed-rate and what the monthly market rate has been.

Market Rate Comparison

If you prefer, you can also telephone the customer service call centre to make the change.

Once you’ve signed up for the fixed-rate option, you need to keep that commitment for at least six months.

At the end of that time, you are automatically renewed, or you can opt-out at any time.

The city typically sets the fixed rate option for the year in time for January, and they remain the same for the full year, while the variable rates are changed monthly.