Hydro customers across Ontario can soon choose a new “ultra-low” overnight rate, aimed at people who use more electricity at night, including electric vehicle owners who need to charge their cars.
Energy Minister Todd Smith says the new rate will be 2.4 cents per kilowatt hour, which is 67 per cent lower than the current off peak rate.
If customers choose that plan it will be in exchange for a higher on-peak rate.
Smith says it could appeal to customers who electrically heat their home, charge their electric vehicle overnight or who are shift workers.
He calls it a way to shift demand to a period when it is typically lower and when Ontario produces excess electricity.
“Our government has put families back in control of their energy bills, and the new Ultra-Low Overnight price plan will give families and small businesses who use more electricity overnight more ways to save,” said Todd Smith, Minister of Energy. “Starting May 1 customers can opt in to the new ultra-low electricity price plan which could save them up to $90 per year, while at the same time making our grid more efficient, helping to reduce costs for all ratepayers.”
Starting May 1, Toronto Hydro, London Hydro, Centre Wellington Hydro, Hearst Power, Renfrew Hydro, Wasaga Distribution, and Sioux Lookout Hydro will offer the new pricing, and all utilities will be required to offer it within six months.
(The Canadian Press)
