Wednesday, December 8, 2010

Saving Skills # 3: Cutting Down On Those Utility Bills

If you’re living on your own, then utility bills must cut quite a chunk out of your income. But for
Ontario’s residents, there is a way to save some extra money if you purchase electricity from the local
hydro utility.

Smart Meters – or Time-of-Use meters, have been implemented across Ontario for residential
customers. What are Smart Meters? The new meters that use a different pricing formula for customers
with time-of-use meters, since these meters can not only report on how much electricity you use but
also when you use it.

Sounds complicated? It really isn’t at all! Check out this chart released by Ontario Hydro that easily
explains how it works to your advantage.

Basically, it means that you will be charged one of three prices depending on what time of day you
use your power. These prices are set every 6 months by the Ontario Energy Board, the government
regulator of electricity in Ontario. At present the three price tiers are:

For “on-peak” hours = 9.9 cents per kilowatt-hour;
For “mid-peak” hours = 8.1 cents per kilowatt-hour; and
For “off-peak” hours = 5.1 cents per kilowatt hour.

Check out this site for more information about this!

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