Is Your Hydro Supplier Switching To Time Of Use Charges? - Will It Cost You More Or Less?
Over the last year we have used on average 40 kWh per day. On a 30 day month that is 1,200 kWh. Our service provider, Hydro One, charges us .058 per kWh for the first 1,000 kWh and .067 for the balance making our current average hydro "usage" bill $71.40 or about $2.38 a day. This does not include the other charges on our Hydro bill.
With Hydro One switching to time of use meters that will soon change. Under time of use billing there are three rates, peak at .093, mid range at .08 and off peak at .044 per kWh.
If we were able to regulate our consumption to a set amount per hour all day long our bill would go down from $71.40 to $67.12.
Under time of use billing With This Scenario
Our savings would be $4.28 a month
What Is More Likely To Happen is our cost will increase as we consume more hydro per hour during the peak times than the off peak times.
While we do not yet know what our consumption will be during the different times we can work out a sample using some assumptions. If we assume that 50% of our hydro consumption is during peek times and 25% is during our off peak and mid range times equally then our bill will rise to $83.24 from the current $71.40
Under time of use billing With This Scenario
Our additional cost would be $11.76 a month
It would rise even more except for the fact that at lease 8 days of the month will be at the off peak rate as weekends and statutory holidays are considered off peak times.
This Leaves us with the question ... How hard will you work to keep your Hydro Bill from going up?
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Kathy Clulow Sales Representative RE/MAX All-Stars Realty Inc.. Brokerage 905.852.6143
Each office independently owned and operated Not intended to solicit clients already under contract
Kathy,
This is a very helpful and informative posr. I'm going to bookmark it.
Brian
Kathy - I understand that all of Ontario is converting to time-of-use over a period of time. I expect that hydro bills will increase because the lowest rates are generally when it is late at night or early morning when people are sleeping, at least during the week.
Hi Kathy...maybe time to Come out West :O))
Brian - While it is being sold as an energy conservation program it will be interesting to see how much more it will cost
Marc - NOT ALL ONTARIO ... if you are signed up with an energy retailer you will continue to pay the contract price.
Fred - I suspect you will see this in BC very soon
I heard about that from Sylvie - we don't have it yet - but if it's like the HST we'll probably get that too :-(
Liz - Comming to a hydro supplier near you
Kathy,
I've heard from those in the know (long term hydro employees) that it will end up costing us more...however, I think it will be better for the environment.
Jo
Jo - Barrie is one of those - he tracks our hydro etc and these are figures he put together for me.