When should you use your electricity?

Parvasi Media News

The Ontario government has announced the new rates of electricity that could save some money for you. These new rates will also support electric vehicle (EV) adoption and the province’s growing EV manufacturing industry by decreasing overnight charging costs when province-wide electricity demand is lower.

If the proposed price plan was in place today, the OEB estimated that it could offer a new ultra-low overnight rate of approximately 2.5 cents per kilowatt-hour (kWh), which is 70 per cent lower than the current off-peak rate, in exchange for a higher on-peak rate. This would help consumers who use more electricity at night, such as EV users, find savings of up to five per cent on their bills, equivalent to savings of up to $90 per year.

The OEB has proposed a new optional ultra-low overnight TOU electricity price plan that would provide:

• • Ultra-low overnight rates: everyday 11 p.m.-7 a.m.

  • Mid-peak rates: weekdays 7 a.m.-4 p.m. and 9 p.m.-11 p.m.

  • On-peak rates: weekdays 4 p.m.-9 p.m.

  • Weekend off-peak rates: weekends and statutory holidays 7 a.m.-11 p.m.

Under the new price plan, the on-peak rate would be equal to approximately 10 times the ultra-low overnight rate.