How to choose a power bank for your house
Energy banks provide power to homes and businesses in need of electricity.
Each bank has its own price and a fixed rate that is set at a rate determined by the grid operator.
In most cases, they charge a fixed fee, which can vary depending on the size of the house.
In a recent report, Dominion Energy, which runs Dominion, found that, overall, electricity rates for energy banks varied from $1.25 per kilowatt-hour to $4.20 per kiloWatt.
That means the average rate for the four power banks in its study was $4 per kilomole per year.
Dominion estimates the average fee for energy-saving devices was $15.24 per kWh.
“Energy banks are essential to the health of our electric grid,” Dominion Energy said in a statement.
“We continue to review our pricing, policies and procedures to better serve our customers.”
Power banks can help consumers pay for their electricity and are a cost-effective way to reduce the cost of running the grid, said Rick McBride, director of utilities for the advocacy group Clean Energy Economy.
But they can also provide more competition in a market where there is less choice, McBride said.
“If there is not enough choice, they can’t compete,” McBride told the CBC.
“That means more competition, and fewer choices for consumers.”
Dominion Energy declined to release the average rates for the energy-savings devices.
McBride also said that while there is no single-payer electricity pricing system, there is a plan in place to ensure energy banks are available to consumers with limited income.
“This is a long-term solution, and it’s a long time in the future,” McBushe said.
The Ontario Energy Board is set to make a decision in the next few weeks on how to implement the Energy Savings Device Plan.
A spokesperson for the province said the agency will review the report.
“The OEB is committed to ensuring that our electricity supply is reliable and that consumers are empowered to make the most of their electricity resources,” spokesperson Heather Fournier said in an email.
Dominion Energy estimates that energy-saver devices in the province cost the average household $9.25 to $12.25 annually.
The company has also said the cost is likely to drop as more energy-efficient appliances are introduced.
Dominion has more than 60 energy-save devices and said its latest models are more efficient and less expensive than competitors.
The average annual cost of energy-savers devices has dropped by about 30 per cent since the previous report, according to Dominion.