Direct Energy Offers Ontario Commercial Plan Capping Market Rate Plus Global Adjustment

Direct Energy Business is offering to Ontario non-residential customers, for a limited time, a service called PowerAssure which Direct says removes the variability associated with the Global Adjustment.

The Global Adjustment is a charge applicable to customers to account for the difference in wholesale costs between certain mandated procurements and market prices.

Under PowerAssure, customers' electricity supply will be billed at the Hourly Ontario Energy Price (HOEP), plus the Global Adjustment, with an annual cap on the total sum of the two.

At the end of a contract year, Direct Energy will perform an analysis for the customer to calculate the annualized weighted average of the HOEP plus Global Adjustment unit rate. If this total is above the cap, the customer will receive a credit for any amount exceeding the cap.

"PowerAssure offers you the flexibility to pursue competitive pricing on the wholesale market, with the added protection of a capped maximum annual price per kWh, for the term of one year," said Murray Skinner, Canadian Sales Manager, Direct Energy Business. "PowerAssure allows you to benefit when market conditions are advantageous, instead of being locked in at a fixed price," Skinner said.