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Westario Power expects Smart Meters to be up and running by spring, 2012 By Liz Dadson |
Kincardine council To Comment on this article Click Here |
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Westario Power's 21,000 customers have had Smart Meters installed in their homes and businesses, with the devices expected to be up and running by the spring of next year. That's the word from Randy Hughes and Lisa Milne, company representatives, who spoke to Kincardine council Wednesday night (Oct. 19). The Smart Meters provide time-of-use pricing which would allow customers to use electricity in the evenings and on weekends (off-peak times), to reduce their rates.
The Smart Meters, she said, will read the electricity use each day and send that to the Westario Power office which then gathers up that information and sends out the monthly bill. If a customer uses most of his electricity during peak hours (daytime), he pays a higher rate, she said. In addition, she said, the Ontario Energy Board announces the rates twice a year - with the new rates to come out Nov. 1. "We
have a new conservation officer in-house at Westario Power," she added.
"That person will bring forward ways to conserve energy in high-use
buildings."
Milne said the value of Westario Power has increased greatly over the past decade. The asset is worth $48.9-million (2010), increasing by $18.5-million or 60.5 per cent. Equity has grown by $11.4-million or 84.5 per cent, and is now valued at $25-million. Kincardine's equity stands at $3.4-million, an increase of $1.55-million or 84.5 per cent.
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This year, Kincardine received a dividend payment of
$880,000. The municipality also received rental income for several
years while the Westario Power office was located in Kincardine. In the future, Westario Power is seeking to merge with, or acquire, other utilities, said Milne. Councillor Kenneth Craig asked about the possibility of installing rooftop solar panels on the Davidson Centre when the roof has to be replaced. Milne said Westario Power is prepared to consider any generation opportunity that is proposed. Regarding the Smart Meters, councillor Mike Leggett asked what happens if the computers, set up to read the daily electricity usage, fail. "A lot of money has been spent on the technology for this system," said Milne. "The IESO is managing all of that data and has a contingency plan and back-up system in place. Plus all the Smart Meters have a three- to four-day back-up on them. That data could be retrieved." Council thanked Hughes and Milne for the update. Scrolling stops when you move your mouse inside the scroll area. You can click on the ads for more
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