For immediate release
March 18, 2019 (TORONTO) – Ontarians living in condominiums and apartment buildings served by electricity sub-metering companies have lower bills, according to a study by Power Advisory LLC.
The Study examined the difference between buildings served by local distribution companies, which have rates and fees set by the Ontario Energy Board, with buildings served by Ontario’s submetering industry and fees set by the marketplace.
The study looked at 170,000 submetering customers that are served by members of The Sub-Metering Council of Ontario (SCO), which represents the largest members of Ontario’s independent and competitive industry. The Study found that:
• Customers served by SCO members save an average of approximately $9.66 a month on their electricity bill, compared to what they would have paid if served by the local utility;
• Annual savings for each customer is approximately $117 a year.
Extrapolating the data to include all 275,000 sub-metering customers in the Province, the total annual savings that the industry provides to Ontarians is approximately $32 million a year.
“This is an advantage that our members’ customers receive, each and every month,” said Chris Holz, spokesperson for the SCO, which commissioned the study. “It also demonstrates that the competitive market is working and delivering value to our customers.”
While sub-metering customers benefit from competitively lower fees than those set by the Ontario Energy Board to avoid local utility monopolization of the market, the industry is still regulated by the Ontario Energy Board, under the Unit Sub-Metering Code.