Time of Use Electricity Rates

[tjthemanto]

November 1, 2020 - Updated prices are up.

https://www.oeb.ca/newsroom/2020/ont...all-businesses

Bill Calculator is also UP -

https://www.oeb.ca/rates-and-your-bill/bill-calculator

I personally will go for the tiered pricing as opposed to the Time Of Use prices. In my case both bills are almost the same, when I did the calculations. Maybe a couple of bucks here and there.

Now at least I have the freedom to use hydro whenever I want and not watch the clock, and it's just going to be maybe a Toonie extra on my bill.

If you use lot of Hydro, maybe TOU is better for you. Not for me, I use less.

[tjthemanto]

Do you apply for the changes now and they become effective on November 1.

Or do you have to wait till November 1 to even apply for the changes from TOU to Tiered?

[GoodBoy]

It looks like you can apply anytime but they will only take effect on your next billing cycle after Nov 1. So if your billing cycle starts Nov 25 that is when they will take effect. Also from what I read your electricity provider has to receive your request at least 10 days before the next billing cycle. If you go to your provider they should have information on their website. I know Toronto Hydro does.

[tjthemanto]

It looks like you can apply anytime but they will only take effect on your next billing cycle after Nov 1. So if your billing cycle starts Nov 25 that is when they will take effect. Also from what I read your electricity provider has to receive your request at least 10 days before the next billing cycle. If you go to your provider they should have information on their website. I know Toronto Hydro does.

Requested change online. Status is still pending.

But should be done in a couple of days, and usually they send a confirmation email for your records after change is processed & confirmed.Will wait for the email.

[GoodBoy]

They have very craftily chosen the costs for Tiers and TOU.

I just went through the detailed calculation using the past 12 months of detailed usage.
It showed me that using the new Nov 01 2020 rates I would save $35.00 over the 12 months by switching to Tier-based pricing.

Not alot but that is $$ in our pocket.

Also as mentioned by others it takes away worrying about when to use hydro for cheapest etc. I will check again over 12 months after 6 months of tiered to see how it has played out

But for now I will be submitting the paperwork to switch from TOU to Tiered. It will not take effect until my billing cycle starting near end of Nov 2020 anyway since that is the soonest it can take effect but I want to get it out of the way!

[Shwa Girl]

November 1, 2020 - Updated prices are up.

https://www.oeb.ca/newsroom/2020/ont...all-businesses

Bill Calculator is also UP -

https://www.oeb.ca/rates-and-your-bill/bill-calculator

I personally will go for the tiered pricing as opposed to the Time Of Use prices. In my case both bills are almost the same, when I did the calculations. Maybe a couple of bucks here and there.

Now at least I have the freedom to use hydro whenever I want and not watch the clock, and it's just going to be maybe a Toonie extra on my bill.

If you use lot of Hydro, maybe TOU is better for you. Not for me, I use less.

@tjthemanto , if you work from home due to COVID, would tiered make more sense than TOU?

[tjthemanto]

Requested change online. Status is still pending.

But should be done in a couple of days, and usually they send a confirmation email for your records after change is processed & confirmed.Will wait for the email.

Processed now. But won't take effect for me till the next billing cycle for me, which is November
24.

So although tiered pricing starts November 1, will have to wait almost a month for a new billing cycle for it to be applied.

[tjthemanto]

@tjthemanto, if you work from home due to COVID, would tiered make more sense than TOU?

Yes. my household is using way less than 750 KWh even with WFH😊

I think the second higher rate starts from 750 + use.

[Granger]

Mine says I will save (a little - $30 a year) with TOU so I will stick with that. We don't really pay attention to the time anymore. Since I don't work in the home this also makes sense for us.

On the other hand, we need to look for ways to reduce energy consumption as all my bills came out higher than what we are currently or previously paid. I don't need my bill to double either! Maybe we should pay attention to the time again.

[GoodBoy]

I think the second higher rate starts from 750 + use.

The higher tier level depends on the season. For Winter pricing starting November the 2nd tier is at 1000 KWh. For the summer season starting May 01 it is at 600 KWh

You can see the details here: https://www.oeb.ca/rates-and-your-bi...ctricity-rates

[tjthemanto]

The higher tier level depends on the season. For Winter pricing starting November the 2nd tier is at 1000 KWh. For the summer season starting May 01 it is at 600 KWh

You can see the details here: https://www.oeb.ca/rates-and-your-bi...ctricity-rates

Yes.

For some reason, I think I only saw the non residential rates. Which are 750 KWh for all seasons. No idea why

[Frugalbigmama]

So if our usage is way under 750KWH then I should choose Tier charge?

[GoodBoy]

Rather than rely on someone else's opinion for your hydro I would suggest that you use the calculator (links provided above), do a detailed (12 month) comparison and see how much difference it would be for you. The amount of usage is not necessarily germaine, but rather when you use the hydro IMHO.
Of course you can choose to do what you wish in any event

[Frugalbigmama]

Rather than rely on someone else's opinion for your hydro I would suggest that you use the calculator (links provided above), do a detailed (12 month) comparison and see how much difference it would be for you. The amount of usage is not necessarily germaine, but rather when you use the hydro IMHO.
Of course you can choose to do what you wish in any event

Ok thank-you. I missed the calculator info.

[tjthemanto]

So if our usage is way under 750KWH then I should choose Tier charge?

Yes. In most cases.

Not even 750 KWh that is for commercial, for residential the threshold is even higher at 1,000 KWh, for winter.