Time to lock in your gas rate now???

[William W]

Enbridge wins 22% rate increase (http://www.canada.com/ottawacitizen/news/business/story.html?id=174d0ebe-38a1-4fc3-8bdd-a72a8c04257d)

Is it time to lock in our rates now?

Based on this website (http://www.energyshop.com/es/prices/ON/gasON.cfm?ldc_id=2&) I can get fixed rate lower than what Enbridge will be offering. So should I lock in now?

[mart242]

Holy crap are these prices expensive. I'd say stay variable, prices are at a peak now so I suspect that new wells are being drilled.

[stevethewheel]

Before you lock in - check and see how soon the contract starts.

Typically the ones on energyshop don't kick in for 3-6 months. So that would mean you would miss the winter and be buying spot price all winter anyway. If you can't get a contract tha starts before April then you might as well wait because even contract prices are lower in the summer....but then do your shopping in May for a fall contract start!

Happy I locked mine in last summer. Contract started in Oct. I think it's 29.5 cents...which didn't seem like any big savings at the time....I missed having 24.5 by about a week while I doodled about signing a contract vs. staying variable. Looking good now though.

There should some older threads on here somewhere with more input because this topic has come up a few times. Search the forums for riterate

Just so you know the price increases that Enbridge is seeking really has nothing to do with any increase in the cost of production. It is all about demand and right now the US is demanding lots, you and I have to bid on the same gas they do even if it comes out of Canadian wells.