On May 1, 2023, the Ontario Government launched a new Ultra-Low Overnight (ULO) price plan as part of its plan to provide consumers with more ways to keep costs down, save money and take control of their energy bills. All utilities are required to offer ULO to customers by November 1, 2023.
What is the Ultra-Low Overnight (ULO) Rate?
ULO provides a third option for electricity customers, in addition to the existing Time-of-Use (TOU) and Tiered plans. Customers that use more electricity at night, including shift workers and those that electrically heat their home or charge their electric vehicle, could save by shifting demand to the ultra-low overnight rate period when province-wide electricity demand is lower.
In addition to providing residents the ability to manage costs, the new ULO pricing will help shift usage patterns to benefit the network across the province. Shifting electricity use to these hours will allow the province to better leverage Ontario’s clean electricity grid, increasing grid efficiency, resulting in potential capacity cost savings.
When customers shift their electrical usage to the Ultra-Low-Overnight hours, it allows utilities to better leverage Ontario’s electricity grid, increasing efficiency, resulting in cost savings for all ratepayers in the province.
You Can Choose
Power is personal. Customers have a choice between Tiered, Time-Of-Use and Ultra-Low-Overnight price plans. Families and small businesses can use the Ontario Energy Board’s Bill Calculator to determine what electricity rate plan best suits their lifestyle, usage patterns and will help them save money on their energy bills.
For more information on your choice as a customer, please visit: http://oeb.ca/choice