Every ETS system depends on “time-of-day” (TOD) rates.
Nova Scotia Power must be able to produce and distribute enough electricity to meet high demand at "peak" times. But during low-demand, or "off-peak" times, there’s plenty of generating capacity available. To encourage customers to shift usage to off-peak times, Nova Scotia Power offers the time-of-day rate. This is typical of electrical utilities across Canada.
Time-of-day rates work by billing for the actual cost of making and delivering power at different times. During certain times—overnight, holidays and weekends, for example—demand for electricity is lower, so power is cheapest during these times. During other times—during the day for example—demand for electricity is higher, so power is charged at its normal rate.
The time-of-day rate is an optional rate available to residential customers. In order to qualify for the TOD rate you must have an ETS approved by Nova Scotia Power
Save money every month, in many ways
Space heating and hot-water systems account for the majority of the energy most homes use. A traditional electric-based space heating system uses power on demand and draws electricity as needed, when needed. An ETS, paired with TOD rates, draws the majority of its energy during "off-peak" times, which saves you money.
But it’s important to note that TOD rate savings apply to more than just your heating—it’s a “whole-home” rate. So everything in your home that consumes power does it at a lower rate during off-peak times, from lighting to appliances. You’ll cut costs even more by using your washer, dryer, and dishwasher during the off-peak period.
Different times, different rates
The time-of-day schedule works like this.
The “off-peak" period (reduced rate) applies to power used on weekends and holidays (all day long), and every night during the year from 11:00 p.m. to 7:00 a.m. The ”off-peak” rate is 44% lower than the regular residential rate.
The "on-peak" period is December to February in the mornings, 7 a.m. to 12 noon, and in the evenings, 4 p.m. to 11 p.m., of each weekday. During these times the rate for power is 28% higher than the standard rate.
Qualifying customers (those with an approved ETS) will have their regular electric meter replaced with a time-of-day (TOD) meter. A TOD meter records the amount of power used, the time of day the usage occurred, and the season that we are in. The TOD meter even keeps track of the holidays when power is approximately half the standard residential rate.
The TOD meter measures all activity requiring power, and the customer is billed at the cost that’s in effect when the power is used. For example, a TOD customer doing their laundry on a weekday during the "on-peak" period is paying a premium price for the power they use. The same load of laundry during the "off peak" is over 40% lower than the standard residential rate.