LAS Electricity 10th Anniversary Blog

Posted: July 04, 2018
Tagged As: Electricity

The LAS Electricity Program is celebrating its 10th birthday. Through the years, the program has provided municipalities with an alternative to the default Regulated Price Plan rates, offering stable and predictable commodity costs to assist with municipal budgeting.

The Three Cornerstones of the LAS Electricity Program

Although the electricity market has changed considerably over the last decade, the program remains competitive in an ever-changing market.  While the program itself offers a number of benefits to those that participate, we feel its longevity is rooted in three basic principles.

FLEXIBILITY

The LAS Electricity Program is unique in that it allows participants to hedge up to 75% of their annual electricity consumption, with the balance falling at spot market rates. You can pick any hedge-spot combination you choose, or “ride the market” at 100% spot marketing billing.  By changing your hedge level, you change your exposure to market rates, thus allowing you some control over the effect of market volatility on your electricity commodity costs.

ACCURACY

LAS receives consumption data from your Local Distribution Company (LDC).  To ensure accuracy, there are a number of checks and balances applied to the data.  Upon receipt, we check the data against historical maximum and minimum usages for the account. If the consumption is outside of this range, we follow up with the LDC to verify the meter reading. For customers with interval meters, we ensure the data is complete without any holes in data over the billing period.  

After we verify the data, we calculate cost of electricity that will go on your bill.  We then run several checks to confirm it is accurate and within range of the requested hedge level.

TRANSPARENCY & ACCOUNTABILITY

Hedging can be a challenging concept to understand, especially given all of the moving parts in the electricity market.  If you ever have any questions regarding consumption or billing data, need assistance with annual 397/11 submissions, please feel free to pick up the phone or send us an email.  We can provide supporting data for anything appearing on your bill, and if you discover any errors, we will work with you to correct them.  We can even provide you with an analysis of your hydro bill and consumption trends.

So as we wish a Happy Birthday 10th birthday to the LAS Electricity Program, We would like thank our customers for their continued and loyal support of the program through the years. Here’s to another ten years!

Image of colourful balloons


 

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