Sunday, August 22, 2010

How much more will you pay under TOU?

Looking back on my electric meter's historical data downloaded from HydroOne, I have done a quick analysis to see how much more I would have paid under the new structure compared to the old.

Taking data from March 16 to March 29, I used a total of 254 kWh. At a cost of 6.5 cents/kWh under the old pricing scheme, this amounts to $16.51. Under the new TOU structure which came into effect as of May 1 2010, I would have paid $18.64, which is 12% more. This isn't taking into account other additional charges, such as the smart meter charge, delivery, regulatory, and debt retirement charges.

I also did another hypothetical analysis, where I took each hour of extreme high consumption during peak periods and moved it to an off peak time. For example, I ran my dryer, dishwasher, or other major appliance. Hypothetically speaking, if I had run major appliances only during off peak times, then I would only pay 45 cents more under TOU. A more modest increase, but still an increase none the less.

Summer update

So I moved in late June, just a few days before I was scheduled to be switched to TOU rates. My new home is also in HydroOne territory, but the meter is not yet being read wirelessly, and therefore HydroOne is not in a position to bill me under the TOU rate structure, or even give me access to my hourly meter reads. So no more cool charts and graphs for a while.