DEMAND RESPONSE - A Powerful Opportunity to Manage your Electricity Costs
For organizations looking for new ways to manage their electricity costs, DEMAND RESPONSE can make perfect sense. Demand Response is increasingly being recognized as an effective way to reduce the cost of power and the need to build additional electricity generation capacity.
What is DEMAND RESPONSE?
Demand response occurs when an electricity consumer reduces their energy demand at specific times of power system need – either in response to changes in the price of electricity or to incentives during peak period. During such times wholesale market prices for electricity may be high, the power system is experiencing large peaks in demand, or there is a greater risk to the reliability of the electricity grid.
DEMAND RESPONSE can be incorporated into your business’ energy cost-management strategy in several different ways. During peak periods, reduce your consumption by curtailing your facilities’ electricity usage or switching to on-site generation. Shifting production to an off-peak period is another great opportunity to take advantage of lower electricity costs.
For more information, please visit the Independent Electricity System Operator’s website on the current DEMAND RESPONSE initiatives in Ontario.