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Report on new price plan projects significant bill savings for consumers
The Ontario government is advancing work to deliver a new optional ultra-low overnight Time-of-Use (TOU) electricity price plan, as part of its plan to provide consumers with more ways to keep costs down, save money, and take control of their energy bills. According to a report released today by Ontario’s independent energy regulator, the Ontario Energy Board (OEB), the new rate could save customers who switch up to $90 per year. At the same time the new rate will support electric vehicle (EV) adoption and the province’s growing EV manufacturing industry by decreasing overnight charging costs when province-wide electricity demand is lower.
“Our government has put families back in control of their energy bills and we will continue this work by delivering a third electricity price plan for customers across Ontario” said Todd Smith, Minister of Energy. “Introducing the ultra-low overnight electricity rate will help our efforts to make life more affordable for Ontario families by keeping costs down and saving them up to $90 per year while reducing EV charging costs and supporting the historic investments in our province’s rapidly expanding EV manufacturing sector.”
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