If you’re a residential or small business customer, you can choose to switch between Time-of-Use (TOU), Tiered Prices or Ultra-Low Overnight Pricing (ULO).
Power is personal. Some customers may prefer TOU or ULO prices. For instance, customers who work different shifts may be able to use more of their electricity at times when lower off-peak prices apply, and customers who recharge their electric cars may also want to take advantage of lower off-peak prices that apply at night. Others may favor Tiered prices because they want the flexibility to do their household chores at any time of the day, or their total usage rarely exceeds 600 kWh in a month in summer or 1,000 kWh a month in the winter.
Whatever you choose, one thing remains certain: the less electricity you use, the less you pay. And no matter what your price plan is, you are eligible for the Ontario Electricity Rebate and may be eligible for government programs like the Ontario Electricity Support Program if you are in need of financial support.
If you are considering a switch keep in mind the following:
- How much do you use in a month? You may want to look at the historical usage graph found through Customer Connect.
Your consumption pattern
- When you use electricity can be a factor in your choice. Historically, the typical residential customer who paid TOU prices have used nearly two-thirds of their power at off-peak times-the time when the lowest TOU price applies. The other third of their power was typically split equally between on and mid-peak times.
- The TOU price periods and Tier thresholds change with the season and are different during the winter (November 1 – April 30) and summer (May 1 – October 31) periods. Does the amount of electricity you use change based on the season?
- For instance, if you heat your home electrically, your monthly use in the winter may be higher. And the same goes for the summer if you need to run your air conditioner.
- With TOU prices, the price depends on when you use electricity. Although the TOU price periods also change with the season, the electricity you use after 7 p.m. every day, and all the time on weekends and holidays, is charged at the lowest price under TOU all year round.
Lifestyle and daily habits
- Are you often home during the day on weekdays, so that shifting your usage is more challenging? Do you have large appliances that you need to run during the day on weekdays? Can you shift more of that usage to nighttime or weekend hours?
- There is no guarantee you will save money if you switch between TOU and Tiered Prices. The total bill impact of switching will vary depending on how much electricity is consumed in a month and when it is consumed during the day.
Compare TOU and Tiered Prices using the OEB Calculator: Bill calculator | Ontario Energy Board (oeb.ca)