The Ontario government has introduced a new electricity plan aimed at providing more affordable electricity rates to customers who use most of their electricity overnight. The plan, known as the “ultra-low overnight” plan, offers a rate of 2.4 cents per kilowatt-hour between 11 p.m. and 7 a.m. This new plan is expected to benefit shift workers and individuals who charge their electric vehicles overnight.
According to Energy Minister Todd Smith, the new plan could save customers up to $90 a year. The government’s decision to introduce this new plan was driven by the fact that the province has a surplus supply of clean electricity at night, when province-wide electricity demand is lower.
The “ultra-low overnight” plan will be available as an opt-in option from May 1 and will be offered initially by Toronto Hydro, London Hydro, Centre Wellington Hydro, Hearst Power, Renfrew Hydro, Wasaga Distribution, and Sioux Lookout Hydro. However, it will be expanded to all local distribution companies by November 1.
Customers who opt for this new plan should be aware that it will result in a higher on-peak rate. In addition to the “ultra-low overnight” plan, customers can choose from two other electricity plans: Time of Use and Tiered Rates. The Time of Use plan divides rates into off-peak, mid-peak, and on-peak hours, while the Tiered Rates plan provides customers with a standard rate depending on how much electricity is used.
Overall, the introduction of the “ultra-low overnight” plan is expected to provide customers with more options and greater flexibility in terms of electricity rates. The plan is part of the government’s ongoing efforts to provide more affordable and sustainable energy solutions to Ontario residents.