Electricity is bought and sold much like natural gas and other energy commodities. The main difference is that we don’t store electricity. Though technically possible, it’s expensive and impractical. Instead, only as much electricity is generated as is required.
Electricity is generated from many different sources such as nuclear, natural gas and renewables such as wind and solar. At this time, Ontario is striving to ensure reliability for all consumers while concurrently moving to greener electricity generation to reduce climate change and save the planet.
Each energy source has a different generating cost, and through supply and demand the trading of power attempts to keep the system in balance. Ontario is now in an oversupplied position and much of the excess electricity is sold to adjacent provinces and US States, often at deeply discounted prices.
There are many choices for companies when buying electricity, each with its pros and cons. Let GOenergy help you decide on the best options for your company.