RIGHTS & RESPONSIBILITIES
You may cancel your Olympus Energy plan at any time without cost or penalty by providing 10 days written notice.
You agree to pay your bill on the 2nd business day following the statement date of the monthly invoice.
We agree to sell you gas and/or electricity as requested by you, based on the agreed upon price, plus applicable charges and our flat Administration Charge of $9.50 per service.
We will respect your privacy and comply with applicable legislation.
We will provide you with a monthly bill that outlines your gas usage and applicable charges.
We will charge you a late payment charge if you don’t pay your bill on time.
Your account will be charged a $25 fee should your payment be returned NSF and will be automatically processed again up to 5 business days later unless specific payment arrangements have been confirmed in writing prior to re-processing.
If your payment history or credit worthiness is not satisfactory, we may require a security deposit or cancel your Olympus Retail Plan.
ESSENTIAL AGREEMENT INFORMATION
I, the customer, choose Olympus Energy (Olympus) to supply natural gas and/or electricity to the Site ID(s) enrolled under Olympus’s Retail Plan Contract (“Contract”). I understand and accept:
- This Contract does not guarantee financial savings. Olympus rates are not regulated by any provincial or municipal government or agency. Olympus is not affiliated with the Government of Alberta.
- I have been provided on line access via www.olympusenergy.ca from which I can obtain a copy of the contract plus Olympus’s Disclosure Agreement, PAD agreement and the Compliance Plan.
- I have the right, by law, to cancel this Contract (by email or registered mail) without cost or penalty with 10 days notice and is acknowledged as being received by Olympus. In the situation where the Contract is processed online the effective date of the Contract is the date and time of acknowledgement by Olympus.
- By signing the Contract and/or digitally acknowledging acceptance of the Contract (www.Olympusenergy.ca), I agree to buy natural gas and/or electricity from Olympus at the price and for the term set out above.
- The term of this Contract for the Site ID(s) enrolled will automatically continue on a month to month basis unless the Contract is cancelled.
- Without penalty or exit fees, I can cancel or change the Contract at any time by giving Olympus at least 10 days’ written notice in the appropriate form.
- Other than any fixed or variable plan in effect for your site, Olympu may change, modify, add, or remove portions of this agreement (including the administrative charge and the transaction fee) at any time and at our sole discretion. Before doing so, however, we will provide you with at least (30) days advance notice of the proposed change. Notice of any changes that we make to this Agreement will be given to you in a manner described herein. The notice may include a link to our website, on the customer portal or an email notification.
The table below sets out the basic rights and obligations of each of us under this agreement. It is intended to be a brief summary that will enable you to easily understand your Olympus plan. If you have questions please email customer service at Customercare@olympusenergy.ca or call 1-855-220-5969.
1.2 Buyers’ Right to Cancel
You may cancel this contract from the day you enter into the contract with 10 days written notice. You do not need a reason to cancel.
To cancel, you must give notice of cancellation at the email address in this contract. You must give notice of cancellation by a method that will allow you to prove that you gave notice, including registered mail and email.
You are entitled to cancel this contract without cost or penalty if a marketing contract, including an Internet or Telephone marketing contract, presently exists for the same property, except where the existing marketing contract is to expire on or before the commencement of this contract.
You are also entitled to cancel the contract without penalty within one year from the date the marketing contract is entered into if the contract does not specify the date on which it is to begin, if the supply of energy does not begin within 30 days of the date stated in the contract, or if the marketer was not properly licenced at the time the contract was entered into.
1.2 Your Basic Cancellation Right
Your rights of cancellation during the cooling-off periods are in addition to your basic cancellation rights. You may cancel this Contract at any time without penalty by providing us with l0 days’ written notice.
The NATURAL GAS charge you agree to pay for the gas we supply to you is set out in the Sign-up Form, and is based on the Flow-through*. You agree to pay for and we agree to sell you gas based on the agreed gas charge, plus applicable charges.
2.2 Floating Naural Gas Rate Plan
The Floating gas rate is calculated as the wholesale cost of gas plus .89 cents/GJ. Markup on the flow-through is subject to change with due notice.
The ELECTRICITY charge you agree to pay for the electricity we supply to you is set out in the Sign-up Form, and is based on the Floating Electricity Rate**. You agree to pay for and we agree to sell you electricity based on the agreed electricity charge, plus applicable charges.
2.3 Floating Electricity Rate
The Floating Electricity Rate is calculated on flow-through prices that are based on hourly Alberta Pool prices plus 1 cent/KwH. Markup on Floating Electricity Rate is subject to change with due notice.
*Flow-through price and are based on daily wholesale market prices in Alberta with additional charges to reflect transportation charges and administrative fees.
**Flow-through prices for electricity are based on hourly Alberta Pool prices with additional charges to reflect line losses and unaccounted for energy, load shaping and administrative fees.
2.4 Additional Charges
In addition to the gas and/or electricity charge, you are responsible for Administration Charges and other charges related to the supply of gas to your site. We will show all such charges as separate line items on your bill.
2.5 Deposits and Pre-Payment
Olympus may require you to pay a Deposit/Pre-Payment in an amount determined by Olympus, including without limitation, under the following circumstance:
- If you do not have a satisfactory credit rating or credit history, as reasonably determined by Olympus, or
- If you are a business and not a residential consumer.
The Deposit/Prepayment amount collected from the customer will be assigned to the prudential account and used as security. Where a customer has made all the required payments under the contract for one year from the date the customer enters into the contract, Olympus shall refund the entire security deposit to the customer within 15 days from the date the last payment for that year was made.
2.6 Payment under this Agreement will be governed by the following terms:
- By providing Olympus with your banking information, you authorize Olympus to draw on your account with the branch of the financial institution where you maintain your account. This authorization cannot be cancelled if there is an outstanding billing balance due and payable to Olympus.
- You acknowledge this authorization is provided for the benefit of Olympus and your bank, and is provided in consideration of your bank agreeing to process payments against your account in accordance with the rules of the Canadian Payments Association
- You acknowledge and agree that Olympus may use your account and PAD details to pay total amount due (current amount due plus previous balance) found in your invoice relating to you as a Customer or your specific Site(s). For greater certainty, you hereby authorize Olympus to utilize the account and PAD issued under this agreement to pay total amount due for other site(s) linked to you as a Customer
- The amount of the deposit must be debited from your account prior to the site enrollment.
- A security deposit may also be collected should your monthly invoice payment be returned NSF on more than one occasion, to be determined by Olympus.
If Olympus does not receive your normal monthly payment for gas and/or electricity consumed by the due date indicated on the invoice, Olympus reserves the right to apply the funds from the Interest Account toward outstanding billed amounts and will unenroll you from the program. Any remaining funds in the account, including accrued interest, will be refunded to you.
You may cancel your gas and/or electricity contract at any time without penalty by providing Olympus with 10 days’ written notice. Upon Contract termination and clearance of all outstanding charges accrued under the Contract, the remaining balance in the Interest Account, including accrued interest, will be refunded.
3.2 Start Date
Your Contract will begin on the effective date of enrolment of your Site ID(s) with the Distribution Company.
3.3 Conditions of Supply
Before we arrange for the supply of Gas and/or Electricity to your Site, and before this Contract comes into effect:
- You must meet our credit requirements, and
- The Distribution Company must enroll your Site with us designated as your retailer.
3.4 Credit Requirements
You agree to provide us with and authorize us to request and receive from third parties reasonable financial and credit information. You agree to maintain credit worthiness satisfactory to Olympus at all times while this Contract is in effect. If you do not maintain credit worthiness satisfactory to Olympus, we may cancel this Contract at our discretion.
3.5 Appointing Us as Your Agent
By entering into this Contract, you appoint Olympus as your limited agent to arrange for the supply of Gas and/or Electricity under this Contract. This agency ends when Olympus has fulfilled its obligations under this Contract. We will act as your agent only for purposes directly related to this Contract. You authorize the Distribution Company to give us your consumption information and any related information that we may require. You agree that we are not your financial advisor and therefore have no liability for the choices you make with respect to your Gas and/or Electricity Plan.
Please read this statement before you sign it. Before you enter into a marketing contract for the supply of energy you should understand the following:
- This contract is not an electricity or gas utility or government rebate program. The person who presented you with this contract represents Olympus.
- The business named in this contract may not be able to supply energy cheaper than your current utility company.
- This contract can be ended only under the following conditions: you provide 10 days’ written notice by submitting the request for cancellation via email or registered mail.
- If you move to another location within Alberta you will not be responsible to buy energy under this contract.
- You may cancel this contract from the day you sign the contract. You do not need a reason to cancel the contract. To cancel the contract, you must give notice of cancellation at the address in the contract. You may give notice of cancellation by any method that will allow you to prove that you gave notice, including mail or e-mail. Under certain circumstances you may have more than 10 days to cancel the contract.
If you need more information on cancelling the contract, or if you feel you have been treated unfairly, you may contact Service Alberta at 780-427-4088. Outside Edmonton call 1-877-427-4088 toll free.