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Smart Meters & Time-of-Use Rates

 

Smart Meters

Why Smart Meters?


The Ontario Government has mandated all Ontario Electricity Distributors to install smart meters on every home and small business by the end of 2010. Over the next 20 years, Ontario will need to refurbish, rebuild, replace, or conserve 25,000 megawatts of electricity generating capacity – more than 80% of Ontario’s current capacity – at an estimated cost of $70 billion. The Government expects that conservation will help us to make the best use of our existing electricity resources and slow the growth in our demand. Ontario is introducing new tools – like Smart Meters – to help conserve electricity. Smart Meters are expected to encourage us all to think more about how and when we use electricity and to help us better understand and manage our own household’s energy use. Smart meters will track the amount of electricity we use, the time of day and the day of the week we use it, and send that information electronically to Canadian Niagara Power. The new meters will eliminate the need for manual and estimated readings and will ensure meter readings are precise.

 

How Will Smart Meters Affect Me?


It is important to note that although your smart meter is being installed, nothing will change at this time. You are not required to do anything and you will be billed for electricity in the same way at the current electricity rates. The cost of the smart meter initiative will be recovered through the electricity rates paid by all customers in the same way that costs for existing meters and services are recovered today. It is also important to remember that you are not required to sign a contract with an energy retailer just because you have a smart meter. Always review any contract you are offered in detail prior to making a decision. Please note that Canadian Niagara Power is not an energy retailer and charges for the cost of electricity at the Ontario Energy Board prescribed rates.

 

What Will Change in the Future?


Initially, your new smart meter will function the same way as your old meter to collect your electricity consumption, but in the future your meter will become a valuable tool in helping you manage your energy use. Once the Time-Of-Use (TOU) rates are introduced to your service territory next year, as mandated by the Ontario Energy Board, the price you pay will vary by the time of day, the day itself and the season.

Canadian Niagara Power will let you know well in advance when Time-of-Use electricity rates are coming into effect for your area (currently scheduled for early 2012) and will provide you information on how to take advantage of your smart meter and the new rate structure. Please note that if you currently have a contract with an energy retailer or if you sign one, you may not be able to take advantage of Time-of-Use Rates. 

Time-of-Use Rates

By the end of 2012, Time-of-Use (TOU) rates will be implemented across Ontario. Please note that these rates are not yet in effect. TOU rates will be implemented for Canadian Niagara Power Inc. customers starting early 2012. You still have plenty of time to get ready and learn more before they begin; keep checking your bills for more information. Here are some tips to get started:
  • Make the shift. See if there are ways you can shift energy-intensive activities to off-peak hours to take advantage of TOU rates. Prices are lowest on weekdays between 7 p.m. and 7 a.m., and all day on weekends.
  • Plug large-screen TVs, DVD players, game consoles and computer equipment into a power bar. Turn the power bar off when not in use so that “phantom power” is not consumed.
For more information on Time-of-Use rates please visit the Ontario Energy Board website here.