SOURCE: PowerStream Inc.

PowerStream

October 21, 2014 15:05 ET

PowerStream Customers Can Take Advantage of New Pricing Plan

Pilot Initiative Provides Innovative Opportunity for Participants to Save on Electricity

VAUGHAN, ON--(Marketwired - October 21, 2014) - PowerStream has launched an innovative pilot electricity pricing initiative that will provide participating customers with an opportunity to better manage their electricity costs.

Being offered in partnership with the Ministry of Energy and Energate Inc., Advantage Power Pricing is an optional pricing plan for residential customers in which the daily on-peak price varies in response to overall provincial demand. Customers are given an opportunity to shift their consumption away from the on-peak price period, which is more expensive, to less costly, lower-price periods. This shifting reduces the strain on the province's electricity grid and provides customers with an opportunity to better manage their electricity costs.

Participating consumers will be equipped with Energate Foundation™ Smart Thermostats and Home Energy Gateways that will provide them with the up-to-date pricing information and respond to price changes intelligently and automatically according to their preferences. Participants of Advantage Power Pricing are expected to save approximately 10 per cent on their electricity costs and are guaranteed to not pay more than if they were on the existing price plan.

PowerStream is the first utility in Ontario to offer this innovative pricing plan to its customers. The project is funded by Ontario's Smart Grid Fund and is structured to act as a template for other Ontario distribution companies to follow once the pilot is complete in the second half of 2015.

PowerStream customers interested in participating in this pilot are encouraged to call 1-844-952-5291 or visit www.PowerStream.ca/AdvantagePower for additional details.

QUOTES

  • "As an industry leader in piloting and implementing Smart Grid technologies, PowerStream is excited to offer this opportunity to its customers," says Maurizio Bevilacqua, PowerStream Board Chair and City of Vaughan Mayor. "Advantage Power Pricing provides our customers with more choices in how they manage their electricity costs."
  • "The Government of Ontario is committed to providing electricity consumers with the tools they need to manage their electricity consumption," explains Bob Chiarelli, Minister of Energy. "The province-wide installation of smart meters has enabled great innovation in smart grid technology and we are excited to be taking this next step with PowerStream and Energate."

BACKGROUND

  • Advantage Power Pricing will be offered to a limited number of PowerStream customers as a one year pilot program
  • Similar programs are currently being offered in the US and have received positive feedback from participants
  • The Government of Ontario's Smart Grid Fund finances innovative projects which support the growth and advancement of the province's electricity grid

ABOUT POWERSTREAM

PowerStream is a community-owned energy company that provides power and related services to more than 370,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. It is jointly owned by the Cities of Barrie, Markham and Vaughan.

ABOUT ENERGATE

Energate Inc. provides interactive energy management solutions that enable next-generation energy management and the connected home. Energate's products include devices, middleware, and applications. With its Internet of Things interoperable architecture, Energate's vertically integrated Consumer Connected Demand Response™ platform provides management of two-way communication, devices, and demand response events. Energate's solutions have been employed by over 40 North American utilities.

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