OTTAWA, Feb. 16, 2016 (GLOBE NEWSWIRE) -- Energate Inc., a leading provider of interactive energy management solutions that enable next-generation energy management for the Utility Internet of Things (IoT) and the connected home has been working with PowerStream to deliver the first of its kind in Canada, a Customer Opt-in Dynamic Pricing (CODP) program for residential customers – providing significant savings to the grid and to customers.
The success of the pilot prompted PowerStream to launch a second pilot to evaluate CODP impact during the next two seasons (winter & summer 2016). Approximately 500 new participants were enrolled for the winter and 300 more customers will be enrolled for the summer of 2016. With a second summer, additional data on a larger number of customers will further validate the value of this innovative program.
“The Advantage Power Pricing program exceeded our expectations,” said Mark Henderson, PowerStream’s EVP Asset Management & Chief Operating Officer. “So much so that we are expanding the evaluation of the effect of dynamic price signals and set-and-forget technology on managing peak demand.”
The summer 2015 program was delivered with support from the Ontario Ministry of Energy’s Smart Grid Fund and Energate. Advantage Power Pricing (APP), as named by PowerStream, was a voluntary, dynamic pricing program for residential customers. Customers who took part in the pilot paid a very low price for off-peak energy use (4.9¢), while their peak use from 3:00 to 9:00 p.m. on weekdays varied between one of three rates (12¢, 24¢, and 48¢), based on actual provincial electricity demand. When demand was extremely high, critical peak price events took place at 60¢ per kWh. Customers paid the lowest, off-peak, rate over 80% of the time.
“Enhanced technology for the second pilot will provide participants with additional information to help them save,” said Steve Dodds, Energate’s CEO. “The benefits will be long lasting as over 80% of respondents in the first pilot reported they had developed lasting saving behaviours that would continue over time.”
All participants in the first pilot received technology – Foundation Smart Thermostat and Home Energy Gateway, mobile apps, and ZigBee-enabled smart meter - and information to adjust their consumption in response to daily electricity demand. On average participants received an $80 cheque that represented their savings DURING THE SUMMER PERIOD compared to Time-of-Use (TOU) rates. With 1053 people participating, peak electricity demand decreased by approximately 1 MW.
Customer Opt-in Dynamic Pricing can be implemented at any Local Distribution Company. As with TOU rates, dynamic pricing has the potential to benefit microgrids, Conservation and Demand Management, Demand Response, energy storage, and further development of in-home tools for customers.
“The Government of Ontario is committed to providing electricity consumers with the tools they need to manage their electricity consumption and reduce their bills,” said Energy Minister Bob Chiarelli. “The province-wide investment in the modernization of our electricity system has enabled great innovation in smart grid technology and we are excited to be taking this next step with PowerStream and Energate.”
About Energate
Energate Inc. provides interactive energy management solutions that enable next-generation energy management and the connected home. Energate’s vertically integrated Consumer Connected Demand Response™ platform provides management of two-way communication and demand response events through a flexible solution that includes devices, middleware, and applications. Energate’s Internet of Things solution is an interoperable architecture that has been proven in the homes of more than 40 North American utilities’ customers.
About PowerStream
PowerStream is a community-owned energy company that provides power and related services to more than 375,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario.