Ontarians will be able to switch to a new “ultralow” overnight electricity rate of just 2.4 cents per kilowatt hour, a saving of 67 per cent.
Ontarians can switch to a new “ultralow” overnight electricity rate of just 2.4 cents per kilowatt hour, a saving of 67 per cent. But there’s a catch — paying 59 per cent more for power at dinnertime and in the evening.
“We are increasing resiliency to prepare for electric vehicles,” he said at a news conference with Toronto Hydro chief executive Anthony Haines. Instead of paying the 7.4 cent per kWh under the current “time-of-use” pricing plan, the ultralow plan would charge the 2.4 cent rate. The tradeoff, however, would be paying 24 cents per kWh on weekdays from 4 p.m. to 9 p.m. — up from 15.1 cents under time-of-use pricing plans.
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