Montréal, April 16, 2024
Press Release
Hilo and dynamic pricing: significant savings in spite of a mild winter
Winter 2023–2024 was very mild, as evidenced by the record-breaking highs in January and February.
This didn’t keep nearly 340,000 households from achieving significant savings, thanks to different offers created to reward those who consumed less electricity or shifted electricity use outside peak periods.
One of the five priorities of the Action Plan 2035 – Towards a Decarbonized and Prosperous Québec is to help customers make better use of electricity. The goal is to help customers save money by using less electricity and consuming less at the right time. Our aim is therefore to have 700,000 high-efficiency systems and devices installed in our customers’ homes and business by 2035. This will increase the share of Québec homes with such equipment from 3% to 25%.
Hilo: Target exceeded for second year running
With approximately 35,000 customers participating in the Hilo challenges this winter, Hilo was able to shift 103 MW of power demand per challenge, thereby surpassing the objective by 10%. That’s equivalent to the electricity demand of 14,715 homes.
By letting the smart devices work for them—thermostats in particular—customers accumulated an average of $135 in rewards from 19 energy-reduction challenges during peak periods. What’s more, the average reward reached $7.13 per challenge.
The virtual generating station that Hilo represents will play an increasingly important role in the coming years and help shift 620 MW by 2028–2029, i.e., the equivalent of the electricity demand of more than 114,000 households, or the entire capacity of the La Romaine-2 generating station.
Dynamic pricing: Energy savings equivalent to the consumption of 35,000 households
Last winter, approximately 305,000 customers in the residential sector opted for dynamic pricing to save money.
On average, the customers enrolled in the Winter Credit Option saved $25. The customers who took action for peak events and who followed our tips saved an average of $63.
The average savings of residential customers who signed up for Rate Flex D will be determined in the coming weeks. These residential customers benefited from the mild weather in recent months because they paid a reduced price on each kilowatthour during the winter period, and a higher price when asked to reduce their electricity consumption. For information purposes, residential customers saved an average of $114 during the 2022–2023 winter period.
Therefore, for each peak demand event, customers signed up for dynamic pricing helped curtail an average of 248 MW.
Companies are also doing their part
Over 1,300 companies have opted for the Demand Response Option or an Interruptible Electricity Option. In addition to making significant savings, together they contributed to a reduction of 647 MW per peak period. That represents the annual consumption of 92,500 households.
In this way, companies are contributing to a reduction in electricity imports and the investments needed on the system, which helps us keep our electricity rates among the lowest in North America.
Information:
Hydro-Québec
514 289-5005