ecobee Announces Energy Saving Programs to Help Support Grid Stability Across Ontario

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Ecobee announces energy saving programs in Ontario

Positive

• Residents of Ontario can earn $75 for enrolling in energy saving programs offered by ecobee, benefiting the electricity grid during high demand periods.
• Customers remain in control of their comfort and can opt out of temperature adjustments at any time.
• The Independent Electricity System Operator (IESO) forecasts a 40% increase in electricity demand over the next 20 years in Ontario.
• Hydro One customers can participate in myEnergy Rewards program and receive $75 for energy-saving events.
• Ecobee partners with over 100 utilities in North America to offer energy saving programs to customers.

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• None.

Programs aim to improve grid reliability for Ontario residents

TORONTO--(BUSINESS WIRE)-- Toronto-based smart home company ecobee today announced two energy saving programs – one with the Independent Electricity System Operator (IESO) and one with Hydro One – to help strengthen the electricity grid in communities across Ontario by reducing the strain on the grid during periods of high demand.

Residents of Ontario who own a smart thermostat can now earn $75 for enrolling in either the IESO’s Save on Energy Peak Perks program, or the Hydro One myEnergy Rewards program through the Community Energy Savings feature in the ecobee app. Participating customers will experience slight, temporary, and automatic temperature adjustments of a few degrees on their ecobee smart thermostat during periods of high energy demand. These shifts in energy consumption can help create a more reliable and sustainable electricity grid, which benefits customers as well as their local community. Customers will remain in control of their comfort and can opt out of the adjustment at any time, or adjust their settings in the ecobee app to match the impact they want to have.

“At ecobee, we are committed to offering planet positive solutions that address the timely problems customers are facing, such as increasing energy costs and growing demand for electricity,” said Chris Carradine, EVP at ecobee Energy. “As a company that was founded in Ontario, we’re excited to participate in these important energy-saving programs, which will allow more Ontarians to help their communities and automatically save on energy, without sacrificing comfort.”

Community energy savings programs aim to provide an opportunity for customers to play a significant role in the operation of the electricity grid, with the goal of ensuring a cost-effective, sustainable, and reliable electricity system in Ontario.

“Over the next 20 years, the IESO forecasts that demand for electricity will grow 40 percent across Ontario,” said Tam Wagner, Director, Demand Side Management, the IESO. “Energy efficiency programs, which include Peak Perks, are a cost-effective resource that continually help the province meet its electricity demands.”

The Save on Energy Peak Perks program is available to eligible customers across the province of Ontario. Customers will receive a $75 prepaid Mastercard for participating, as well as an additional $20 for each year they stay enrolled in the program starting in 2024, and energy-saving events may take place up to 10 times per year between June and September. Customers who don’t already have a smart thermostat may qualify for a free one as part of Save on Energy’s Energy Affordability Program.

"Hydro One is preparing for a clean energy future and we’re inviting our customers to join us by participating in a new, innovative way to use their thermostats that will help create a greener Ontario and get rewarded for doing so,” said Megan Telford, Executive Vice President, Strategy, Energy Transition and Human Resources. "The demand for clean energy is increasing at a remarkable rate and Hydro One is committed to finding new ways to better optimize our electricity grid so energy remains reliable and cost-effective into the future.”

Hydro One myEnergy Rewards is available to eligible residential customers in Hydro One’s service territory. Customers will receive $75 for participating, and energy-saving events may take place up to 15 times per year. Customers who don’t already have an ecobee smart thermostat can purchase one from the Hydro One myEnergy Rewards Marketplace and automatically pre-enroll in the myEnergy Rewards program, after meeting eligibility criteria. They can also receive a $50 discount on either an in-person installation or a guided virtual installation appointment.

Over the years, ecobee has demonstrated its commitment to improving everyday life while creating a more sustainable world. In North America, ecobee partners with over 100 utilities to offer energy saving programs to customers. Residents of Ontario who are interested in joining one of these programs can learn more at https://www.ecobee.com/en-ca/eco-plus/community-energy-savings/.

About ecobee

ecobee Inc. was founded in 2007 with a mission to improve everyday life while creating a more sustainable world. Since launching the world’s first smart thermostat, ecobee has helped customers across North America save more than 27.8 TWh of energy, which is the equivalent of taking all the homes in Los Angeles and Chicago off the grid for a year. Today, ecobee continues to innovate with smart home solutions that solve everyday problems with comfort, security, and conservation in mind. With ecobee’s products, including the award-winning Smart Thermostat Premium, ecobee continues to encourage Smart Owners to imagine what home could be. ecobee is a part of Generac Holdings Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions, and other power products. Generac and ecobee share a vision to deliver a cleaner and more sustainable energy future for customers and communities. The Generac and ecobee home of the future will be more comfortable, resilient, and efficient. For more information, visit ecobee.com.

About IESO

The IESO operates Ontario's power grid 24 hours a day, 365 days a year, ensuring Ontarians receive a reliable and cost-effective source of power when and where they need it. It works with sector partners and engages with communities across Ontario to plan and prepare for the province's electricity needs now and into the future.

About Hydro One

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230905978153/en/

Press:

Fatima Reyes, Senior Communications Manager, ecobee

press@ecobee.com

Source: ecobee