The province is rolling out a new “ultra-low” overnight hydro rate aimed people who use more electricity at night.
Energy Minister Todd Smith says the new rate of 2.4 cents per kilowatt hour is 67 percent lower than the current off-peak rate, but you’ll end up with a higher on-peak rate between 7 and 11 am and from 5 to 7 pm.
Smith says the rate could appeal to customers who heat their home with electricity, charge their electric vehicles overnight and/or work the night-shift.
All utilities are required to offer the opt-in plan to their customers by November 1st but many have said they’ll start offering new pricing as early as May 1st.
In Cobourg, Lakefront Utilities will offer the plan to their customers beginning November 1st.
Written by Joseph Goden
