Phone numbers to help cancel your contract
Here are the phone numbers to call to cancel your existing contract when you sign up with Olympus Energy:
How is my bill calculated:
a) Meter Read:
Each month the local Distribution Company (ATCO, ENMAX, FortisAlberta or EPCOR) will read your meter and prepare a file called a Tariff Bill File (TBF). This electronic file is sent to the retailer. It contains the current meter read and the date the meter was read. The difference between the current read and the previous read is your actual consumption during the defined time period. The actual consumption is used to calculate the cost and price of your energy use.
b) Distribution Fees:
These fees are regulated by the Alberta Utilities Commission (AUC). The current charges invoiced by the Wires Company that services your site is billed monthly, with direct pass through of distribution fees. No additional charges or mark-up are applied to these charges.
c) Administration (Admin) Fees:
The monthly administration fee is on a per site basis. This covers the basic transactional fees incurred in processing your invoice.
d) Wholesale Cost:
This is the actual cost for the electricity you consumed. To calculate the Wholesale Cost, we use the hourly Pool Price (PP) averaged over the calendar month. We then adjust this cost based on your consumption relative to your Profile Class. This Profile Class is determined by your Wires Company. The Wholesale Cost includes the Line Loss (LL), Unaccounted For Energy (UFE), Retail Market Adjustments (RAM) plus the Alberta Electric System Operator’s Spot Trading Charge (STC).
e) Energy Price:
The energy price is adjusted monthly. This price is applied to the energy you use, based on the meter read.
f) Common Terms:
The following terms are often used in the electricity industry – Line Losses (LL), Pool Prices (PP), Spot Trading Charge (STC) and Unaccounted For Energy (UFE). A few brief descriptions are given below.
LL: The information to calculate the LL is obtained from the WCI transaction (as referenced within under the Systems Settlement Code as administered by the AUC). For customers in all other distribution zones the line loss factor is provided by the distribution company and referenced as a percentage.
PP: Refers to the hourly Power Pool price as published by the Alberta Electric System Operator.
STC: Means the Spot Trading Charge as published by the Alberta Electric Systems Operator.
UFE: Means the unaccounted for energy. The UFE factor is obtained from the SSI transaction as provided by the Load Settlement Agent (LSA). The LSA is the operating division within each Distribution Company.
Alberta Energy Industry Resources
Utilities Consumer Advocate (UCA)
Educates, advocates, and mediates for Alberta’s residential, farm and small business electricity and natural gas consumers. https://ucahelps.alberta.ca/
Alberta Utilities Commission (AUC)
Regulates Alberta’s investor-owned electric, gas, water utilities and certain municipally owned electric utilities to ensure that customers receive safe and reliable services and just and reasonable rates. http://www.auc.ab.ca
Supports a fair, efficient and openly competitive electricity market in Alberta by performing the legislated duties and responsibilities set out in its mandate, including managing the risks and maximizing the value of certain generating assets held on behalf of Alberta’s electricity consumer. http://www.balancingpool.ca/
Alberta Electric System Operator (AESO)
Promotes fair, efficient and competitive exchange of electric energy. https://www.aeso.ca/
Alberta Market Surveillance Administrator (MSA)
Investigates Alberta’s electricity markets to ensure fairness, efficiency and competiveness. https://albertamsa.ca/