Energy Prices in Ontario Continue to Climb
In May, the prices were set to 16.1¢/kWh during peak hours (11:00 am to 5:00 pm), 8.0¢/kWh during off-peak hours (7:00 pm to 7:00 am) and 12.2¢/kWh during mid peak hours (7:00 am to 11:00 am and 5:00 pm to 7:00 pm). This caused an average increase of $5.71 to the monthly energy line and a 4.6% increase to the total bill.
In the winter (Nov 1-April 30), mid-peak and on-peak hours swap. Meaning On-Peak becomes 7:00 am to 11:00 am and 5:00 pm to 7:00 pm and mid-peak becomes 11:00 am to 5:00 pm. The chart at the bottom is a chart directly from the Ontario Energy Board (OEB) showing the changes in price to each category:
According to the OEB’s news release, this will translate to an increase of approximately $4.42 per month on the electricity line and 3.4% on the total bill.
These increases have been coming every six months for the past couple of years and they’re showing no signs of slowing down. The rising prices really place importance on the efficiency of your home comfort systems and when you run them.
Here are three ways you can keep costs low, as prices get higher:
The price increases are based on hourly usage, which means you can take advantage of the off peak hours using a programmable thermostat.
These devices become easier and more efficient to use all the time. Some models will even allow you to use your phone to set the temperature based on your schedule. By creating a system where you turn up your heat shortly before the peak hours begin and down when they do, you’ll save money.
Upgrading your system
With new technology being developed every day; HVAC systems aren’t what they used to be… they’re better. A new, high efficiency system can conserve a lot of energy, saving you money in the process.
Also, this happens to be a great time to upgrade your system because of the available manufacturer rebates and provincial incentives, such as Daikin’s current offer that can save you up to $1,850 on a new furnace and air conditioner.
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Special Gas Services proudly serves Brampton, Caledon, Mississauga, Georgetown and Bolton. We are a family-owned and -operated business, since 1968.