Ontario Rolls Out “Ultra Low” Overnight Hydro Rate To Encourage Demand Shift
IF CUSTOMERS CHOOSE THAT PLAN IT WILL BE IN EXCHANGE FOR A HIGHER ON-PEAK RATE
Courtesy of Barrie 360 and Canadian PressPublished: Apr 11th, 2023
Toronto
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.
Energy Minister Todd Smith says the new rate will be 2.4 cents per kilowatt hour, which is 67 per cent lower than the current off peak rate.
If customers choose that plan it will be in exchange for a higher on-peak rate.
Smith says it could appeal to customers who electrically heat their home, charge their electric vehicle overnight or who are shift workers.
He says it’s a way to shift demand to a period when it is typically lower and when Ontario produces excess electricity.
Starting May 1, Toronto Hydro, London Hydro, Centre Wellington Hydro, Hearst Power, Renfrew Hydro, Wasaga Distribution, and Sioux Lookout Hydro will offer the new pricing, and all utilities will be required to offer it within six months.
Patricia is the Business Mentor and owner of Grow Vantage and a Past President of the Barrie Chamber of Commerce. She applies over 30 years of business experience (from start-up to corporate) to mentor entrepreneurs. Since 2011, she has held over 6,500 coaching and training sessions in-person and online. Through Ask For Directions Training, her entrepreneurial training program (and parent company Grow Vantage), and as a business coach, she works with start-ups who are new (or who have lost traction) to design, launch and grow their businesses. Along with 20 other expert instructors she teaches strategies in marketing, sales, communications, and finance, as well as practical techniques to increase productivity, and manage their businesses. In other words, everything entrepreneurs need to learn to grow and run their businesses successfully, and avoid the costly mistakes they can't even see coming - that lead to delays in growth and getting stuck.
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