New 2.4c/kw Ultra low rate 11pm to 7am for Ontario

[shadow4478]

Here is the link to gov website. 2.4cents per kw ultra low rate This is rollin out in many places, Im in Barrie and power stream seems to have it on their website coming September

Keep in mind you have request this and understand the pricing is offset with higher peak rates !

Most tesla LR batteries ~500km ~70kw battery assuming full charge.
70kw x 0.074 = $5.18 (current low rate)
70kw x 0.024 =$1.68 (new rate)

LFP battery is ~60kw max capacity ~400km range
60kw x 0.024 = $1.44

(this is napkin math not chasing exact kw and Pennies)

Home charging is cheap as is, this won’t move the needs much on a monthly basis $$ wise, but in percentage term its over 300% cheaper rate.

 

[mounties99]

It's rather annoying that they've effectively doubled the cost of peak hydro rates while creating this ultra low rate. Have you done the math to see if this is actually saving you money? We're on the tiered system with Hydro One and it feels like it might be cheaper overall, especially since I work from home

 

[shadow4478]

For me it works as I’m typically not home during peak hours, and you’re worrying about peak hours for 5 days as weekends are off peak but the ultra low rate applies on weekends also. My AC/hot tub would go up during peak rates hot tub is negligent and can be set to avoid them, the AC is not worth worrying unless you want to mess with settings in NESt for me.

For some it may not work.

 

[ewoodrick]

When looking at power rates, don't forget that charging your car generally represents a small percentage of your cost.

Most power companies tend to create new rates that are revenue neutral. That it, for the average user, the amount you pay will be the same no matter which plan you have.

That means, on average, your plan doesn't matter. But with an EV, you can create a savings.

BUT, you can make it more expensive. For example, on this rate, between 4PM and 9PM, that price of electricity is 24 cents per kWh. Since much of a residential usage is between 4-9PM, that can cause your bills to increase.

 

[quantumlight]

Agree with ewoodrick and mounties99. The very high peak rate from 4-9pm, in general, offsets any savings on the overnight rate. I too decided to change to Tier rates with London Hydro rather than take up the new low overnight rate plan.

 

[shadow4478]

Yes I agree with all this, my last month bill is $103 family of 5 with running AC and hot tub heated year round. I think the AC contributed to most, cooking is mostly gas.
For us switching will make small difference.
Winter time preconditioning and keeping it toasty will be great at 2.4c

 

[wayner]

Another thread here: Ontario Ultra Low Overnight rates are now live

Don't forget that 2.4c does not include the transmission, distribution and other tariffs that add about 6c/kWh. Those are irrelevant if you are just shifting usage from other times to the overnight period. But if you are goiing to use more incrememtal electricity then it is more like 8c/kWh.

I have switched to this plan and am now shifting other usage - like running my pool pump overnight and during non-peak hours.

 

[shadow4478]

Another thread here: Ontario Ultra Low Overnight rates are now live

Don't forget that 2.4c does not include the transmission, distribution and other tariffs that add about 6c/kWh. Those are irrelevant if you are just shifting usage from other times to the overnight period. But if you are goiing to use more incrememtal electricity then it is more like 8c/kWh.

I have switched to this plan and am now shifting other usage - like running my pool pump overnight and during non-peak hours.

Og the good transmission rates.

 

[Tessaract]

Another thread here: Ontario Ultra Low Overnight rates are now live

Don't forget that 2.4c does not include the transmission, distribution and other tariffs that add about 6c/kWh. Those are irrelevant if you are just shifting usage from other times to the overnight period. But if you are goiing to use more incrememtal electricity then it is more like 8c/kWh.

I have switched to this plan and am now shifting other usage - like running my pool pump overnight and during non-peak hours.

I checked out my Ottawa Hydro bill carefully in prep for the ULO rates, and calculated that transmission, distribution, etc. amounted to about 2.2 c/kWh. Don't know your location, but perhaps your utility charges more for this.

 

[wayner]

I could be wrong, but I thought that those other rates were a lot more than 2c/kWh. The transmission fee alone is 1.89c/kWh, at least for Toronto where I am.

The other fees are confusing as some are fixed amounts per month and some are per kWh.

 

[shadow4478]

I could be wrong, but I thought that those other rates were a lot more than 2c/kWh. The transmission fee alone is 1.89c/kWh, at least for Toronto where I am.

The other fees are confusing as some are fixed amounts per month and some are per kWh.

Confusing they are and then there’s some sort of rebate applied at the end, who knows what we are paying for.

 

[wayner]

For sure. I would really like to see it simplified so that you could see what the fixed monthly rate is and what the variable cost is, factoring in all rebates, etc.