Webinar 2/27: Battling Ontario's Surging Electricity Costs with Energy Storage Technology
While energy prices have decreased steadily in Ontario over the past decade, total electricity costs in the province have skyrocketed. Large industrial businesses in Ontario paid nearly three times as much for electricity in 2016 as their counterparts in Montreal and Calgary, according to a recent Fraser Institute report.
Thanks to a steady increase in Global Adjustment (GA) charges—which are passed onto customers’ hydro bills to cover costs for capacity and conservation programs—electricity costs in Ontario have grown faster than in most major markets across the rest of North America. Large energy users in Ottawa, for example, have seen total electricity costs increase by 53% from 2010 to 2016, according to the Fraser Institute report. By comparison, electricity costs for large energy users in Calgary have decreased by 4.5% over the same period.
However, a policy change implemented in 2017 creates an opportunity for some Ontario businesses to reduce GA charges by deploying energy storage technology for strategic demand management.
- How a 2017 change to eligibility for the Industrial Conservation Initiative enabled more Ontario businesses to reduce GA costs
- How energy storage can help these businesses reduce GA costs without disrupting site-level operations
- How innovative financing models make this possible with no upfront capital investment required