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The time-of-day (TOD) rate is an optional rate available to residential customers. Customers who qualify for the rate can take advantage of low-cost electricity by focusing on the “time-of-day” the energy is used. The rate reflects the actual cost to generate the electricity and provides low-cost electricity during “off-peak” energy-times. Various electric-based space heating systems qualify for use with the TOD rate by storing heat and releasing it through appropriate timing and controls.
The time-of-day (TOD) schedule is easy to follow. Power used on weekends, holidays and during night-time hours (11:00 p.m. to 7:00 a.m.) is charged at the “off peak” rate (approximately half of the regular residential rate). It is during this “off-peak” time that an ETS heating system will draw power, convert the energy to heat, and store it for controlled release over the course of the day. Your water heater can be controlled to heat during this time as well.
The “mid-peak” period covers daytime power use from 7 a.m. to 11 p.m. from March to November and from 12 noon until 4 p.m. in December, January and February. During this time, the cost for electricity is at the regular residential rate, while the night-time and weekend cost remains at approximately half price.
The “on-peak” (1.437 times the regular residential rate) period is in December, January and February from 7:00 a.m. – 12:00 noon and from 4:00 p.m. until 11:00 p.m. on weekdays only. During these months, energy used during night-time hours (11:00 p.m. to 7:00 a.m.) and on weekends remains at approximately half the regular residential rate.
Click HERE for a link to the Nova Scotia Power Website where it shows the current TOD Rates.
There are different times throughout the day, and different seasons throughout the year, when the demand for electricity is higher. Nova Scotia Power must be able to produce and distribute enough electricity to meet these high demand “peak” times, but during low-demand or “off-peak” times, when there is plenty of generating capacity available. To encourage customers to use as much energy as possible during these times, NSP offers a reduced rate per kilowatt hour.
In order to qualify for the TOD rate you must have an electric-based space heating system that has the capacity to store heat with appropriate timing and controls in place and approved by Nova Scotia Power.
Qualifying customers will have their regular electric meter replaced with a time-of-day (TOD) meter by NSP. 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 in effect when the power is used. As an 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 at near half of the standard residential rate.
There are various electric-based space heating systems that qualify for use with the TOD rate because they draw energy during low cost “off-peak” times and store the heat for release later in the day. This is known as thermal storage. A traditional electric-based space heating system uses power on demand and draws electricity as needed, when needed. An electric-based thermal storage space heating system draws the majority of its energy during “off-peak” times – saving you money.