Here’s how to save money on electricity bills in Mississauga
Published May 2, 2024 at 12:26 pm
With summer comes a change in electricity plans and a good chance to see if you could save money.
Alectra, the electricity utility for Mississauga, reminds residents that under the Ontario Energy Board’s Regulated Price Plan, there are changes to electricity rates during the summer.
From May 1 to Oct. 31, customers on time-of-use or tiered pricing will experience altered price periods compared to the winter season.
Electricity prices for both price plans, and the ultra-low overnight price plan for electric vehicle owners, remain unchanged.
For residents on the time-of-use plan, the mid-peak, on-peak and off-peak time periods shift. These time periods refer to times when the demand for electricity is highest. The off-peak electricity rates are lower than the mid- and on-peak times.
In the winter, on-peak is from 7 a.m. to 11 a.m. and mid-peak is 11 a.m. to 5 p.m. but in summer, on-peak hours are 11 a.m. to 5 p.m. likely due to high air conditioner use during this time.
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Residents on the tiered pricing plan use a certain amount of electricity each month at a lower price. Once that limit (threshold) is exceeded, a higher price applies.
The tier threshold for residential customers changes twice a year: 600 kWh during the summer period (May 1 to Oct. 31); and higher in the winter to 1,000 kWh from Nov. 1 to April 30.
The monthly tier threshold for small business customers is 750 kWh all year round.
People can change their rate plan to suit their needs and save the most money.
“Electricity costs depend on when you use electricity,” Alectra notes. “Shifting your usage to lower price periods can help you save.”
For more information see the Alectra website page here.
Lead photo: jniittymaa0
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