In Ontario, if you are a business that pays more than $2,000 a month for electricity, you pay the wholesale market price rather than time-of-use prices. Knowing which rate you pay, however, is just the first step towards becoming an effective energy manager.
It is equally important to consider factors such as how the wholesale market price changes throughout the day. Or what demand charge means on your electricity bill. Discover which energy-saving initiatives are available — and how new technologies and best practices can help keep energy costs in check.
Clearly, the more knowledge you have, the more effectively electricity costs can be managed. This section offers an introduction on how to build an energy management knowledge base for your business.
Understanding the Wholesale Electricity Price
The wholesale price is the hourly price for electricity, which is combined with the Global Adjustment to form the total commodity price. It's important to understand how the shift in the commodity price from hour to hour can affect the implementation of an energy management strategy.
Managing Electricity Costs
The more you know about how and when you use electricity — the more opportunities there are to cut costs and improve your bottom line. You will also be able to tell your customers and community that your company is using energy wisely.
A Guide for Business
Understanding how and when your facility uses electricity will have an impact on your business's bottom line. The IESO brochure,
Managing Your Electricity Costs: a guide for business explains how your company can set goals for more efficient energy usage that can significantly reduce your electricity costs. Included in the brochure are case studies of businesses that have implemented some of the five recommendations for managing electricity costs.
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