The province of Ontario is working toward creating a conservation culture that will help Ontarians to manage their electricity usage while helping the environment at the same time. By 2011, all homes in Ontario will have smart meters installed and will be billed through Time-of-Use billing. Quite simply, this means that the new meter will record the time of day electricity is used in your home and the appropriate price will be applied for the cost of power at that particular time of day. As you can imagine, it will take a considerable amount of time to change electricity meters throughout London and for that reason we will be installing the meters in phases. When a smart meter installation occurs or is about to occur in your neighbourhood, London Hydro will send you an information package with details about the device and time-of-use pricing.
How Will TOU Pricing Work?
With TOU pricing, electricity prices will vary, based on when it is used. That includes by time of day , by day of week (weekdays versus weekend), and by season (winter or summer). This is a significant change from the way prices currently work. Right now, our rates are based on averaging out the more expensive (daytime) and cheaper (nighttime) prices of electricity, simply because our older meters can’t report when it was used. TOU pricing will encourage Ontarians to shift some electricity use to off-peak hours. TOU pricing better reflects the way the electricity market works. Prices rise and fall over the course of the day and tend to drop overnight and on weekends based on the amount of supply available and our levels of demand.
What Does TOU Pricing Look Like Today?
To prepare for smart metering, the Ontario Energy Board has developed the daily and seasonal TOU prices and periods shown in the charts below. Please be aware that TOU periods and prices change bi-annually (May 1st and November 1st).
The Summer Weekdays
The highest energy prices occur over the afternoon, largely due to greater air-conditioning use. That’s why the on-peak rate is from 11 a.m. to 5 p.m.
The Winter Weekdays
Energy prices peak twice—in the early morning and in the evening—mainly due to space heating, plus increased lighting and appliance use.
Weekends and Statutory Holidays
Demand and electricity prices are lower on weekends and statutory holidays—as well as overnight—so these periods are all off-peak, both Summer and Winter.
How Will TOU Pricing Work?
With TOU pricing, electricity prices will vary, based on when it is used. That includes by time of day , by day of week (weekdays versus weekend), and by season (winter or summer). This is a significant change from the way prices currently work. Right now, our rates are based on averaging out the more expensive (daytime) and cheaper (nighttime) prices of electricity, simply because our older meters can’t report when it was used. TOU pricing will encourage Ontarians to shift some electricity use to off-peak hours. TOU pricing better reflects the way the electricity market works. Prices rise and fall over the course of the day and tend to drop overnight and on weekends based on the amount of supply available and our levels of demand.
What Does TOU Pricing Look Like Today?
To prepare for smart metering, the Ontario Energy Board has developed the daily and seasonal TOU prices and periods shown in the charts below. Please be aware that TOU periods and prices change bi-annually (May 1st and November 1st).
The Summer Weekdays
The highest energy prices occur over the afternoon, largely due to greater air-conditioning use. That’s why the on-peak rate is from 11 a.m. to 5 p.m.
The Winter Weekdays
Energy prices peak twice—in the early morning and in the evening—mainly due to space heating, plus increased lighting and appliance use.
Weekends and Statutory Holidays
Demand and electricity prices are lower on weekends and statutory holidays—as well as overnight—so these periods are all off-peak, both Summer and Winter.
No comments:
Post a Comment