THUNDER BAY — Hydro One is now offering its customers the same opportunity to sign up for an ultra-low overnight electricity price that Synergy North and other Ontario utilities have provided since May.
In an announcement Wednesday, Hydro One said the new price plan gives its 1.5 million customers more choice when it comes to how they are billed for their electricity.
The Ontario government requires all providers to make the ultra-low overnight option available by Nov. 1.
It's designed for those who use more electricity at night, such as people who charge electric vehicles.
The special rate is 2.4 cents per kilowatt-hour between 11 p.m. and 7 a.m., which is 67 per cent lower than the current off-peak rate.
But in exchange for savings overnight, customers who choose this option will pay a premium for on-peak usage – 24 cents/kWh compared with the usual 15.1 cents/kWh.
A recent survey conducted by Innovative Research Group showed that 74 per cent of Ontarians found that having a choice among pricing plans is useful, yet fewer than half are familiar with either tiered pricing or the new ultra-low plan.
Customers can use an online bill calculator to determine which of the three available price plans (time-of-use, tiered or ultra-low overnight) is most advantageous to them.
Hydro One said it also offers customers additional flexibility in managing household budgets by giving them the ability to choose their billing due date, and by offering balanced billing to flatten usage spikes resulting from temperature fluctuations.
