Families, small businesses and farms are getting a bit of a break on their hydro bills.
Premier Doug Ford says the provincial government is suspending time-of-use electricity rates, holding prices to the off-peak rate of 10.1 cents-per-kilowatt-hour.
“You will pay the lowest rate possible, 24 hours a day, seven days a week. You won’t have to do anything to receive the savings. The new rate will apply to the power you are using today, right at this moment, and for the next six weeks.”
Ford says switching to off-peak rates will save time-of-use customers, who make up the a majority of electricity consumers in the province, over 50% compared to peak rates for the next 45 days.
The relief comes as most of us stay home to work, learn or self-isolate during the COVID-19 crisis.
Minister of Energy, Northern Development and Mines Greg Rickford says this announcement represents an investment of over $160-million.
Rickford notes “Ontario is fortunate to have a strong electricity system we can rely on during these exceptional times, and our government is proud to provide additional relief to Ontarians who are doing their part to stay home.”
