With the crazy prices of hydro in Ontario, who would blame anyone looking for a savings. Read the papers, watch the news, talk to friends, it's a major concern and rightfully so. When shopping for better rates make sure you do your homework.
On your Hydro bill you see the usual Debt Retirement Charge (what a scam this turned out to be), Regulatory Charges (love paying this) and Delivery charges.
What you do not see is the Global Adjustments **this is key*** The Global Adjustment provides both adequate energy supply and green energy for Ontario. It accounts for differences between the market price and the rates paid to regulated and contracted generators and for conservation and demand management programs.
These adjustment are hidden on your bill so before signing with ANY other company, you need to know what these figures are. And, they vary on every bill. This is a charge you will pay regardless whom you are purchasing your Hydro from..
With the ever increasing costs of Hydro ( a necessity in Canada) maybe being locked in is a good thing.
When I called to sign up, they were very friendly and why shouldn't they be. After all, they do want my business. The process was easy enough and I felt I was going to save a significant amount to make the change. After doing my homework, well lets say...I'm not saying if I cancelled my account or not but what I will say is that you need all the information you can get to make an informed decision. 5 year contracts are worth taking the time, regardless how busy you are, to do your homework.
"Good deal or Bad deal" it's a crap shot.