Summitt is a retail energy marketer who provides natural gas and electricity to homes and businesses across Canada.
For consumers who prefer the certainty of knowing what they will pay each month and want protection from rising energy costs, Summitt Energy provides fixed price energy programs.
Summitt also provides Home Services through water heater rentals, carbon offset programs, and HVAC maintenance and repair plans. Our programs help our customer’s budget their monthly cash flow. Our Home Services programs are available at a low monthly fee, and help customers avoid unexpected repair costs that can often cost thousands of dollars.
Canadian-owned and headquartered in Mississauga, Ontario, Summitt Energy was established in 2006 and operates in Ontario, Quebec and British Columbia.
Summitt Energy is licensed and regulated by the Ontario Energy Board, the British Columbia Utilities Commission, and Gaz Métro.
In 2008, Summitt Energy proudly launched the EverGreen program, marking the first step in the Home Services industry. The EverGreen program is designed to offset greenhouse gas emissions from homes in Canada.
Summitt Energy is a member of the Ontario Energy Association a group of marketers dedicated in providing high quality service and products to our customers
Summitt Energy makes sense for Commercial Clients
Summitt Energy’s Trading and Portfolio team are a group of highly experienced professionals who have worked with Commercial clients in deregulated markets since 1989.
The Portfolio Team can provide industry leading pricing, flexible terms and conditions, and the ability to take advantage of market opportunities while keeping you protected with a fixed price. Your Commercial Representative works closely with Summitt Energy's Portfolio team to ensure they can help meet your unique needs.Learn More
Frequently Asked Questions
There are a number of reasons to lock into a fixed price at this time:
1. Electricity prices have declined due to a reduction in demand as a result of the recession. The economy is recovering and demand is increasing. With the closing of the coal plants in Ontario this increased demand will be supplied with green power like wind and solar which are better for our environment but are much more expensive than coal. Ontario Finance Minister Duncan announced yesterday that electricity prices will increase over 46% in the next five years as Ontario makes this transition to greener electricity.
2. Natural gas prices are at the lowest price in almost a decade. The warm winter last year reduced consumption and there is a lot of gas in storage. With normal winters over the next few years, consumption will increase and prices will recover. This presents an opportunity to lock in at these low prices before those price increases develop.
There are a number of considerations:
- Look at the commodity price for natural gas or electricity
- Consider options such as time of use pricing for electricity, if offered
- Ensure you are comfortable with the length of term of the agreement
- Look for potential environmental benefits such as green power and carbon credits
- Know your rights for cancellation
- Take time to read the details of the agreement (you have to verify your agreement over the phone 10 -60 days after you sign in order to be enrolled in the program you choose)
- Ensure you have the authority to enter into such an agreement (only account holders and their spouses can sign up for energy agreements)
- Make sure you have the contact information for the marketer that you have chosen
Energy Marketers are able to purchase electricity and natural gas in large volumes at wholesale rates for terms of up to five years. The marketer is able to sell a five year contract to customers at a fixed price so the customer will not see an increase for the full term of the contract. This provides price protection to the customer if prices increase. If the customer purchases their electricity through their utility, they will be charged a price that is approved by the Ontario Energy Board which is a forecast of prices for the next 6 months. Gas prices are very volatile and the Ontario Energy Board approved price may change every 3 months. It is this price that Finance Minister Dwight Duncan indicated yesterday may increase as much as 46%.
If a customer moves they can take the contract with them to their new location.
Have a question not shown above? Contact Us!