|
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 Niagara-on-the-Lake Hydro. 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 Niagara-on-the-Lake Hydro 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 Niagara-on-the-Lake 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. Niagara-on-the-Lake Hydro will let you know well in advance when Time-of-Use electricity rates are coming into effect for Niagara-on-the-Lake (currently scheduled for Spring 2011) 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.
|
