April 11, 2023
New Ultra-Low Overnight Electricity Plan to be Introduced
A new Ultra-Low Overnight (ULO) price plan was announced by the Ontario Energy Board today that will provide electricity consumers with additional choice and flexibility in managing their energy costs and consumption.
All electricity utilities must implement the new price plan for residential and small business customers by November 1, 2023. Burlington Hydro will provide more information to customers wishing to opt into this new price plan closer to its implementation date, in the Fall of 2023.
According to the Ontario Energy Board, 'the new option, offered in addition to the Time-of-Use (TOU) and Tiered price plans, features four price periods designed to encourage consumers to shift their electricity usage to lower-demand periods to better manage their electricity costs. For example, customers with an electric vehicle can choose to charge their vehicle during the Ultra-Low Overnight period to capitalize on the time of day when electricity prices are lowest.'
The Ontario Energy Board's Bill Calculator, accessed from the link below, has been updated with the new pricing option to facilitate customers in making an informed decision on which pricing plan works best for them.
The OEB web site offers more information and tools to help consumers make informed decisions.