Energy Minister is looking into a new Time-of-Use electricity plan, with lower overnight costs.
The Ontario government is investigating options for lower overnight electricity rates.
Energy Minister Todd Smith has asked the Ontario Energy Board to provide him with choices for a new Time-of-Use electricity plan with lower rates during the overnight hours.
Smith notes lower overnight rates could help shift workers and residential consumers that use more electricity at night save money, while also reducing charging costs for electric vehicles.
"Our government has reversed the trend of skyrocketing electricity prices and given families and businesses more control when it comes to their energy bills," said Todd Smith, Minister of Energy. "Introduction of a new ultra-low overnight price plan that would benefit shift workers and support EV adoption is our next step as we focus on helping electricity customers save money and take more control of their energy bills."
Today, a public consultation on the proposal was launched.
The province has set a goal of making the new price plan available by April 2023.
Officials say the proposal is possible because the province has excess electricity during overnight hours.
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