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.
| Day & Time | Mon. | Tues. | Wed. | Thurs. | Fri. | Sat. | Sun. | ||||||
| 7 AM | |||||||||||||
| 11 AM | |||||||||||||
| 5 PM | |||||||||||||
| 7 PM | |||||||||||||
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The schedule is somewhat different during winter months, but the off-peak periods are the same for both summer and winter.
| Day & Time | Mon. | Tues. | Wed. | Thurs. | Fri. | Sat. | Sun. | ||||||
| 7 AM | |||||||||||||
| 11 AM | |||||||||||||
| 5 PM | |||||||||||||
| 7 PM | |||||||||||||
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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.
How much do you charge for this 5 years fixed rate?