Hydro One expands its myEnergy Rewards program to electric vehicles and other smart home devices
More than 11,000 customers have joined myEnergy Rewards to utilize devices like smart thermostats to help reduce electricity use
TORONTO, Oct. 5, 2023 /CNW/ - Today, Hydro One announced it is expanding its myEnergy Rewards program to help more customers save money by reducing their electricity use during periods of high energy demand. The program currently rewards Hydro One customers who own a smart thermostat with financial incentives for reducing their energy use during the summer months. Customers can now enroll their other smart home devices including electric vehicles and chargers.
To date, more than 11,000 Hydro One customers have enrolled their smart thermostats to allow Hydro One to temporarily adjust their household temperature by a few degrees when demand for energy is at its highest in Ontario. Over 80 per cent of participants surveyed said they were extremely satisfied or satisfied with the myEnergy Rewards customer experience.
"Hydro One is committed to finding new ways to better optimize the electricity network so energy can remain reliable and resilient for our customers well into the future," said Spencer Gill, Vice President and Executive Lead, Asset Management and Grid Modernization, Hydro One. "By providing our customers with new and innovative ways to use their smart home devices, including electric vehicles and chargers, we can work together to enable a more sustainable Ontario."
Launched in the spring, myEnergy Rewards empowers customers to help optimize Ontario's electricity grid, reducing stress on the system during times of peak demand by lessening or shifting their electricity usage. Initial results show that each participating household can decrease its electricity use by 1.6 kilowatts during times of high demand. With 11,000 customers now enrolled that's 17.6 megawatts of power in savings, equivalent to enough energy to power two professional hockey games. By enrolling eligible smart devices in the program, Hydro One customers can receive up to $185 in financial incentives while knowing they can opt out of participating in any brief, time-limited energy adjustments during periods of peak electricity demand that can occur.
"It didn't really affect my regular life routine, and I was given the options to change back the temperature if needed. I'm happy to participate and save energy."
"It helped us feel like we were making a difference in saving energy."
"The adjustment was small, I had good notice about the event, I felt that I was doing my part to reduce electricity demand in the province."
To join myEnergy Rewards, visit: myEnergyRewards.ca.
Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $31.5 billion in assets as at December 31, 2022, and annual revenues in 2022 of approximately $7.8 billion.
Our team of approximately 9,300 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2022, Hydro One invested approximately $2.1 billion in its transmission and distribution networks, and supported the economy through buying approximately $1.9 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 Leader™ by Electricity Canada.
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.sedarplus.ca or www.sec.gov.
SOURCE Hydro One Inc.
Media can contact Hydro One Media Relations 24 hours a day at 1-877-506-7584 (toll-free in Ontario only) or 416-345-6868.
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