While more than 40 per cent could save on
their monthly bill, only 3 per cent of Hydro One customers have
made the switch
TORONTO, April 29, 2021 /CNW/ - Today, Hydro One is
reminding customers that they can choose an electricity pricing
plan to match their lifestyle. According to a survey conducted for
Hydro One by Innovative Research Group, more than half (52 per
cent) of Ontarians surveyed were unaware they can switch from
Time-of-Use (TOU) to Tiered pricing. After learning about the
choice, about one-third of those surveyed (34 per cent) said they
were likely to make the switch.
"As their trusted energy advisor, we want our customers to know
they have a choice and we have the insights and tools to help them
make the right decision to fit their lifestyle," said Spencer
Gill, Vice President, Customer Service, Hydro One. "As a
customer-driven organization, we believe we have an important
responsibility to offer our customers relief, flexibility and
choice."
While only 3 per cent of Hydro One's customers have switched
since it became an option in November
2020, customer data shows that 43 per cent – or about
600,000 – would see an average savings of more than $50 per year on the Tiered pricing plan, with
some in that group estimated to save more than $130 per year. The analysis also shows that 12
per cent of customers are saving between $10 and $50 per
month by staying on the TOU plan. Approximately 45 per cent would
see no change to their monthly bill.
Hydro One customers can use the company's online portal and
calculator to determine which pricing plan best aligns with their
electricity consumption. No action is needed by customers looking
to remain on TOU pricing. To make the switch between pricing plans,
Hydro One customers can visit
www.hydroone.com/customerchoice.
In addition to choosing a pricing plan, customers can access
Hydro One's suite of customization options, such as choosing
billing due dates, flattening usage spikes from temperature
fluctuations through balanced billing, and monitoring electricity
consumption by signing up for early high usage notifications. Hydro
One remains committed to supporting customers through its Pandemic
Relief Program that offers financial assistance and flexible
service options.
"We encourage customers who are experiencing financial hardship
during this challenging time to give us a call to access our
Pandemic Relief Program," said Gill.
Through Hydro One's Connected for Life program, the company has
pledged to ensure customers experiencing hardship have electricity
while working together with its customer care team to access
financial assistance.
Hydro One Limited (TSX: H)
Hydro One Limited, through its wholly-owned subsidiaries, is
Ontario's largest electricity
transmission and distribution provider with approximately 1.4
million valued customers, approximately $30.3 billion in assets as at December 31, 2020, and annual revenues in 2020 of
approximately $7.3 billion.
Our team of approximately 8,700 skilled and dedicated employees
proudly build and maintain a safe and reliable electricity system
which is essential to supporting strong and successful communities.
In 2020, Hydro One invested approximately $1.9 billion in its transmission and distribution
networks, and supported the economy through buying approximately
$1.7 billion of goods and
services.
We are committed to the communities where we live and work
through community investment, sustainability and diversity
initiatives. We are designated as a Sustainable Electricity Company
by the Canadian Electricity Association.
Hydro One Limited's common shares are listed on the TSX and
certain of Hydro One Inc.'s medium term notes are listed on the
NYSE. Additional information can be accessed at www.hydroone.com;
www.sedar.com or www.sec.gov.
Forward-Looking Statements and Information:
This press release may contain "forward-looking information"
within the meaning of applicable securities laws. Words such as
"expect," "anticipate," "intend," "attempt," "may," "plan," "will",
"can", "believe," "seek," "estimate," and variations of such words
and similar expressions are intended to identify such
forward-looking information. These statements are not guarantees of
future performance or actions and involve assumptions and risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed,
implied or forecasted in such forward-looking information. Some of
the factors that could cause actual results or outcomes to differ
materially from the results expressed, implied or forecasted by
such forward-looking information, including some of the assumptions
used in making such statements, are discussed more fully in Hydro
One's filings with the securities regulatory authorities
in Canada, which are available on SEDAR at www.sedar.com.
Hydro One does not intend, and it disclaims any obligation, to
update any forward-looking information, except as required by
law.
Our website is www.HydroOne.com. Follow us
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SOURCE Hydro One Inc.