Ontario: The Ontario government is launching a new Ultra-Low Overnight 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.

These will soon be used by Ontario hydro customers.

Energy Minister Todd Smith said the new rate would be 2.4 cents per kilowatt-hour, down 67 percent from the rates currently in force overnight.

“Our government wants families to be able to control their electricity bills, and this new Ultra Low Overnight Price Plan will benefit families as well as small businesses that need to use more electricity at night,” Smith said.

The plan will come into effect from May 1. With this, customers can save up to $90 a year using this price plan. This will also reduce the burden on the grid and all the customers will benefit in the end. Smith said that the biggest benefit will be for customers who warm the house with the help of electricity at night, charge their electric vehicles at night and who are shift workers.

The rates under this plan are as follows:

· Daily ultra low rates will be 2.4 cents per kW from 11:00 pm to 7:00 am

· The mid peak rates will be 10.2 cents per kW daily from 7:00 a.m. to 4:00 p.m. and from 9:00 p.m. to 11:00 p.m.

The on-peak rates will be 24.0 cents per kW from 4:00 pm to 9:00 pm

· Weekend off-peak rates will be 7.4 cents per kW from 7:00 a.m. to 11:00 p.m. on weekends and statutory holidays.

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