Another electricity rate is in the offering for Ontario consumers.
Energy Minister Todd Smith is asking the Ontario Energy Board to review the potential of adding a new ultra-low rate to take effect during the overnight hours.
“By introducing this new pricing option, we would offer customers a third electricity price plan to choose from. It’s an option for Ontario families and farms and small businesses that may be a better fit for their lifestyles or their businesses,” says Smith.
Smith says it would also make use of excess power being sold to Michigan.
“Shifting electricity use to these hours would make better use of Ontario’s clean electricity supply when province-wide demand is low, increasing grid efficiency and generating value for all Ontario ratepayers,” says Smith.
Smith is asking the OEB to report back by this April with the new rate put in place a year later.
Residents were paying the off peak rate of 8.2cents/per kilowatt-hour for most of the pandemic. The latest relief ended earlier this week.
