How does smart meter electricity billing work?

Your smart meter will allow your electric utility to use time-of-use billing. This means you will be charged one of three prices depending on what time of day you use your power. These prices are set every 6 months by the Ontario Energy Board, the government regulator of electricity in Ontario. At present the three price tiers are:
For “on-peak” hours = 13.5 cents per kilowatt-hour;
For “mid-peak” hours = 11.2 cents per kilowatt-hour; and
For “off-peak” hours = 7.5 cents per kilowatt hour.
During the “winter” from November to April the three time-of-use periods are:
“on-peak” = 7am to 11am and 5pm to 7pm on weekdays;
“mid-peak” = 11am to 5pm on weekdays; and
“off-peak” = All weekend / holiday hours and 7pm to 7am on weekdays.
During the “summer” from May to October the three time-of-use periods are:
“on-peak” = 11am to 5pm on weekdays;
“mid-peak” = 7am to 11am and 5pm to 7pm on weekdays; and
“off-peak” = All weekend / holiday hours and 7pm to 7am on weekdays.
So, for example, if you used 10 kilowatt-hours of power from 5pm to 6pm in December, you would be charged $1.35 ( = 13.5 cents per kilowatt hour x 10 kilowatt-hours) by your electric utility for that particular hour. However, if you used the equivalent amount of electricity in the middle of the night from say 2am to 3am, your utility would only charge you $0.75 ( = 7.5 cents per kilowatt-hour x 10 kilowatt-hours).



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