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About Buying Electricity
The Ontario Energy Board (OEB) regulates issuing licenses to brokers and agents in the energy market across the province. The regulations outlining the changes in the electrical industry have been formalized. For more information, on the role of the OEB in the energy market across the province log on to the Ontario Energy Board at: www.oeb.gov.on.ca/english/home.htm
Buying Electrical Energy In The Competitive Market Place
On May 1st, 2002 the energy market across the province of Ontario changed. The Ontario government has deregulated electrical energy in the province. It means customer choice.
Customers now have the opportunity to make a buying decision for their energy or commodity needs.
Customers have two options.
They may choose to continue to have Cambridge and North Dumfries Hydro Inc. procure energy or commodity on their behalf. This option means existing customers of the utility do not need to do anything. The utility will continue to procure energy or commodity for you.
In the new market this energy or commodity was to be purchased from the marketplace and the price was to fluctuate. The government introduced Bill 210 on December 9, 2002 and set the price of energy or commodity for residential, low volume and designated customers. Check out our information entitled Bill 210 and You for full details.
As an alternative a customer may choose to sign a contract with a Retailer. In the province all Retailers are required to be licensed by the Ontario Energy Board. Customers that sign with a Retailer will be billed the fixed contract rate for their energy or commodity.
Take Your Time and Comparison Shop
If you are considering signing a contract with a Retailer, take your time and comparison shop. Some contracts have long terms such as five years from the first delivery date. They may also require significant advance notice to cancel. In some case you have to remember to notify your supplier 6 months before the end of the contact period...or else the contract automatically renews for another 3-5 years.
Before you make any decisions ask lots of questions. Here's just a few to start.
- What's the full name of the supplying company?
- Who owns the company?
- Where are they based?
- Are they Canadian owned and operated?
- How many customers do they have today?
- Does the contract waive your rights to any potential future rebates?
- Where does the energy come from?
- When does the service start?
- How long will I be locked in?
- Can I cancel the contract anytime ... and how?
- How much notice must I give for cancellation?
- What is the current rate for just the electrical energy component of the service?
Cambridge and North Dumfries Hydro Inc. is in the business of delivering your energy or commodity to your home or business. We are not offering any energy or commodity contracts.
If you have any questions... PLEASE call the Cambridge and North Dumfries Hydro Energy+ office before you sign.
Signing a contract is easy - getting out of a contract is problematic.
Check out www.energyshop.com a company that is making it their business to help consumers across the province comparative shop for their energy or commodity purchases.
An updated list of licensed Electricity retailers and distributors is available from the OEB at http://www.oeb.gov.on.ca/english/home.htm
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