Best time to save money on electricity with Time-Of-Use (TOU)

Ontario – After 7:00 pm at night, is the time for the cheapest electricity prices. And that’s the same electricity price you get all day and night on weekends and holidays. This is called off-peak for electricity consumers under time-of-use (TOU) electricity rates.

The time-of-use (TOU) electricity rates have three different prices depending on the time of the day you use electricity:

On-peak (14¢ per kilowatt hour)

Mid-peak (11.4¢ per kilowatt hour)

Off-peak (7.7¢ per kilowatt hour) – The cheapest electricity prices are during this period.

*Time-of-Use (TOU) rates are established by the Ontario Energy Board, reviewed and electricity prices are adjusted if necessary every 6 months.

The off-peak electricity price continues right through the night until 7 a.m. the next weekday morning.

To save the most money on electricity, shift all of your energy-intensive activities such as laundry to after 7 p.m. on weeknights or on the weekend. Run the dishwasher after 7 p.m. at night, and you’ll get the cheapest electricity prices.

See graph below for the TOU summer schedule and remember that the cheapest electricity price is in the green.

Summer (May 1 – October 31)
Day & TimeMon.Tues.Wed.Thurs.Fri.Sat.Sun.
        
7 AM       
11 AM       
        
5 PM       
7 PM       
 
¢/kWhOff-Peak
¢¢/kWhMid-Peak
¢¢¢/kWhOn-Peak

The schedule is somewhat different during winter months, but the off-peak periods are the same for both summer and winter.

Winter (November 1 – April 30)
Day & TimeMon.Tues.Wed.Thurs.Fri.Sat.Sun.
        
7 AM       
11 AM       
        
5 PM       
7 PM       
 
¢/kWhOff-Peak
¢¢/kWhMid-Peak
¢¢¢/kWhOn-Peak

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Author: Electricity Companies


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2 thoughts on “Best time to save money on electricity with Time-Of-Use (TOU)

  1. Your rates need to be updated as of Nov. 1/2011. And if you really want to beat the rates. Contact me. I have an option that wil negate the Smart Meter and the balance of the increases for the next 5 years.

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