The Ontario government is introducing a new “ultra low overnight” electricity plan mean to benefit shift workers and to charge electric vehicles overnight.
Energy Minister Todd Smith says the new plan could help save residents $90 a year.
The new rate will start May 1st as an opt in option and will be 2.4 cents per kilowatt-hour from 11pm-7am.
Those who opt in however will also be hit with a higher on-peak rate.
Starting May 1st, those who opt in for ultra low will see the following rates;
11pm-7am – Ultra Low – 2.4 cents per kilowatt-hour
Weekends and Holidays – 7am-11pm – 7.4 cents per kilowatt-hour
Mid-Peak – Weekdays 7am-4pm and 9pm-11pm – 10.2 cents per kilowatt-hour
On-Peak – Weekdays – 4pm-9pm – 24 cents per kilowatt-hour
Those who don’t opt in for ultra low will see rates;
Off-Peak – Weekdays 7pm-7am and weekends/holidays – 7.4 cents per kilowatt hour
Mid-Peak – Weekdays 7am-11am and 5pm-7pm – 10.2 cents per kilowatt hour
On-Peak – Weekdays – 11am-5pm – 15.1 cents per kilowatt hour