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. For this reason, the Ontario Government put forth a mandate for all Ontario Electricity Distributors to install Smart Meters on every home and small business by the end of 2010.
As a result, Ontario introduced this new tool as a means of conserving electricity. Smart Meters were designed 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 energy use. Smart meters work by tracking the amount of electricity we use, the time of day and the day of the week we use it, and sends that information electronically to Niagara-on-the-Lake Hydro. These meters eliminate the need for manual and estimated readings and ensure precise meter readings. The Time-Of-Use (TOU) rates associated with these meters also allow for pricing that varies by the time of day, the day itself and the season. For more information on Time-of-Use Pricing Periods and how to take advantage of Time-of-Use rates click here.
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.
Should you have any questions please contact our office at 905-468-4235.