Residential Electricity FAQ
Q1. Who is Universal Energy® Corporation?
Universal Energy® Corporation is a Canadian Company. The principals of the organization have in excess of 100 years of combined experience in the energy industry and are responsible for aggregating in excess of one million customer contracts since deregulation.
Q2. Is Universal Energy® licensed in Ontario?
Universal Energy® has been approved and licensed as an Electricity Retailer by the Ontario Energy Board (License #ER-2005-0261). Universal Energy® is required to follow the Code of Conduct issued and amended by the Ontario Energy Board.
Q3. Are you affiliated with a local utility?
Universal Energy® is not affiliated with any Local Distribution Company (LDC).
Q4. What causes electricity prices to rise?
Electricity prices are determined by the competitive forces of supply and demand. The short-term or spot price can fluctuate significantly from day to night, season to season, weekday to weekend. For instance, if one generation facility is out of service in the middle of a heat wave, our demand for electricity can easily exceed our supply capacity, and we have to import electricity from neighboring regions, which affects the short-term price of electricity. Longer term electricity prices are determined by factors like population and economic growth and environmental policies (i.e. shutting down coal fired power plants).
Q5. How do I benefit by signing with Universal Energy®?
There is no risk of your electricity commodity price increasing during the term of this agreement. As in the past your Local Distribution Company delivers your electricity and provides 24-hour emergency service. There is no cost to enroll.
Q6. If I choose Universal Energy® as my supplier, will I receive my utility bill from you?
Your bill will come directly from your Local Distribution Company as it has in the past. Once your application has been accepted by Universal Energy®, our name will appear on your bill as your electricity supplier.
Q7. How do I cancel this agreement?
You can cancel at any time from the date of entering into an Agreement with Universal Energy®, until 10 days after receiving a written copy of the agreement. If Universal does not make delivery within 30 days after the delivery date specified in the agreement, or if Universal Energy® does not begin performance of its obligations within 30 days after the commencement date specified in the agreement, you may cancel the agreement at any time before delivery or commencement of performance.