THUNDER BAY – Thunder Bay Hydro reports that Time of Use rates will begin to be charged on local hydro billing periods that begin this week or later. While residential customers will not see the charges on their bills until the completion of the two month billing cycle in late December, it is important to remember that the time to begin to shift electricity use has arrived.
“We won’t be able to predict how local customers respond to the new rate structure until we see the numbers come in after the first months,” says Tim Wilson, Vice-President of Customer Service and Conservation at Thunder Bay Hydro. “A pilot project in Ottawa has shown that Time of Use rates resulted in a significant lowering of electricity use during peak time. A combination of overall conservation and shifting electricity use has been credited with the change.”
The new rate structure is part of the Province of Ontario’s Green Energy Act. In the electricity market, prices rise and fall over the day and tend to drop overnight. TOU rates vary—depending on the time of day, the day of week (week or weekend, and holidays) and the season (summer or winter). With rates that vary, the Province will provide an incentive to shift and/or reduce electricity consumption at times of peak demand.
Cost comparisons and tips for how to conserve and shift your energy use will be included in upcoming electricity bills. Online tools are available through the Thunder Bay Hydro website www.tbhydro.com.