By Antonella Artuso, Toronto Sun
You want the good hydro news, the bad hydro news or the really bad hydro news?
The Ontario Energy Board is decreasing the cost of low-peak power by 0.2 cents per kWh as of Nov. 1, saving time-of-use electricity ratepayers money if they do things like washing their clothes and using the dishwasher on weekends and after 9 p.m.
However, the OEB is jacking up the mid-peak rate by 0.1 cents per kWh as of Nov. 1.
And thanks to “winter” electricity pricing, after Nov. 1 the highest energy rate will apply between 7 a.m.-11 a.m. and 5 p.m.-9 p.m. on weekdays, just when many families are getting ready for school and work or just returning from those activities.
Still, the OEB estimates that time-of-use consumers will see a $1.21 decrease in their monthly bills or a drop of about 1.1%.
Ratepayers who are not on time-of-use smart meter pricing will see savings of about $2.80 per bill for an average family thanks to cheaper electricity prices for both tiers and adjustments to the threshold at which the higher rate kicks in, the OEB says.
Premier Dalton McGuinty had said that the province might need to tinker with time-of-use pricing after it became apparent that the scheme was costing people money, rather than saving as promised.
To realize the full benefits of time-of-use pricing, ratepayers have to shift significant electricity use to late at night or weekends.