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As the temperatures start to rise, Ontario is gearing up for a summer of savings with the launch of its new Ultra-Low Overnight (ULO) price plan. Starting from May 1, 2023, customers will have the opportunity to choose the ULO plan. This plan offers four price periods, including a very low-priced overnight period. Customers can save big by shifting their electricity usage to these lower-priced periods whenever possible.
But that’s not all! The new ULO price plan is just one of the exciting changes that Ontario’s electricity sector is set to see this summer. The Regulated Price Plan (RPP) has also been updated to include new Time-of-Use (TOU) hours and a change in the Tiered threshold for residential customers. These updates will be in effect from May 1 to October 31, 2023. Although electricity prices will remain unchanged, customers will have more options than ever to help manage their energy bills.
With TOU pricing, customers pay different rates depending on when they use electricity, while Tiered pricing allows customers to use a threshold amount of electricity at a lower price. Once they exceed that limit, a higher price applies. Customers can use their own electricity usage information and the OEB’s bill calculator to estimate their bill amount under each plan, and decide which one works best for them.
The ULO plan is also an excellent option for electric vehicle (EV) owners. By charging their vehicles during the ultra-low overnight period, EV owners can save on their energy costs and reduce the strain on the electricity grid during peak periods. The table below shows the ULO pricing periods and rates. It’s also worth noting that the ULO price plan is suitable for energy storage systems with load shifting functions at home. By charging energy storage systems during the ultra-low overnight period and using that stored energy during the peak hours, customers can further reduce their energy costs and help to balance the electricity grid during high demand periods. This can be especially beneficial for those who have solar panels installed at home and want to maximize their use of renewable energy.
|ULO Price Periods||All Year||ULO Prices (¢/kWh)|
|Ultra-Low Overnight||Every day 11 p.m. – 7 a.m.||2.4|
|Weekend Off-Peak||Weekends and holidays 7 a.m. – 11 p.m.||7.4|
|Mid-Peak||Weekdays 7 a.m. – 4 p.m. and 9 p.m. to 11 p.m.||10.2|
|On-Peak||Weekdays 4 p.m. – 9 p.m.||24|
Whether you’re a residential or small business customer, the new ULO price plan offers more options than ever to help manage your energy costs. Don’t miss out on this exciting opportunity to save big!