“Time-of-use” PRICING COMES INTO EFFECT FOR HYDRO SMART METERS
Time-of-use pricing has come into effect for smart meter users in Ontario. Time-of-use pricing is designed to encourage Ontarians to shift some electricity use to off-peak hours by better reflecting the way the electricity market works. Prices rise and fall over the course of the day and tend to drop overnight and on weekends based on levels of supply and demand. Under current rates, Ontario homes with smart meters will pay 5.1 cents per kilo-watt hour (kWh) during “off peak” hours and 9.9 cents/kWh for “on peak” hours. During the winter months, off peak hour rates will be charged from 9pm to 7am, while peak hour rates will be charged from 7am to 11am and 5pm to 9pm.