Toronto, ON, Canada --- (METERING.COM) --- May 19, 2009 - Ontario-wide rollout of time-of-use rates is being started in Toronto and 10,000 homes in the city will move to the new rates starting in June.
By next summer, one million Ontario households should be on time-of-use rates, and by June 2011 an estimated 3.6 million customers will be on the time-of-use rates
Time-of-use rates will equip Ontarians with real time information to make smart decisions about how and when they use electricity. They will be better able to manage their electricity costs by reducing overall use and by shifting energy intensive activities, such as laundry and running the dishwasher, to later in the evening or on weekends.
Under the rates, off-peak times occur on evenings and weekends. Currently, evening off-peak hours start at 10 pm. Beginning November 1, off-peak times will move to 9 pm.
As of May 1, the three rates for electricity (per kilowatt hour) are on-peak: 9.1 cents; mid-peak: 7.6 cents; and off-peak: 4.2 cents.
“Time-of-use pricing is what makes our smart meters ‘smart,’ by telling us how much electricity we are using throughout the day. With this information, the message is to first, reduce our overall energy use, and second, to shift as much of our electricity use as possible to later in the evening and on weekends because that’s when it’s cheapest,” commented George Smitherman, Ontario deputy premier and minister of energy and infrastructure.
To date 40,000 residents in Milton, Newmarket and Chatham-Kent are already on time-of-use rates. The exact timing and rollout of the rates in other areas will vary by electricity utility.