NS Power seeks time-of-day pricing
Nova Scotia Power has applied to the Nova Scotia Utility and Review Board, seeking approval for a consultation process to launch widespread time-of-day pricing tariffs. The company says the program would be voluntary.
It says smart-meter technology, combined with time-of-day pricing, would allow customers to manage the energy they use, track it and ultimately save money on their power bills.
Time-varying pricing tariffs, or time-of-day tariffs, mean customers are able to monitor and decide when they use electricity for actions such as doing laundry or running the dishwasher.
The utility is ramping up its smart meter replacement program and plans to install half a million meters by next year. The smart meters are key to opening up the possibilities of time-of-day power savings.
“Smart-meter technology, combined with the time varying pricing, will allow customers to manage the energy they use and more easily track their use, resulting in an opportunity for customers to save on energy costs," said Nova Scotia Power spokeswoman Jacqueline Foster.
Time-of-day rates work by billing a rate more reflective of the actual cost of delivering power at different times.
Power is cheapest overnight and on weekends and holidays when overall demand on the electricity system is lower. Power is also more expensive during winter days when demand is the highest.
NS Power is proposing a consultative process with customer representatives and other stakeholders on key elements of the pricing plan, ahead of filing the application to the review board in November.