Hydro customers across Ontario can soon choose a new 'ultra-low' overnight rate, aimed at people who use more electricity at night, including electric vehicle owners who need to charge their cars.
Hydro customers across Ontario can soon choose a new "ultra-low" overnight rate, aimed at people who use more electricity at night, including electric vehicle owners who need to charge their cars.The Canadian PressOntario is introducing a new overnight hydro rate of 2.4 cents per kilowatt hour.
Energy Minister Todd Smith says the new rate will be 2.4 cents per kilowatt hour everyday between 11 p.m. and 7 a.m., which is 67 per cent lower than the current off-peak rate.Smith says it could appeal to customers who electrically heat their home, charge their electric vehicle overnight or who are shift workers.
"The new ultra-low overnight price plan will give families and small businesses who use more electricity overnight more ways to save," Smith said in a statement. He says the new rate is a way to shift demand to a period when it is typically lower and when Ontario produces excess electricity, adding that it could save customers $90 per year.
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