GrandBridge Energy residential and small commercial customers have a new electricity price plan option with the launch of Ultra-Low Overnight (ULO) pricing, in addition to the existing Time-of-Use (TOU) and Tiered rate options.
The prices for all rate options are set annually by the Ontario Energy Board.
“We are pleased to offer our customers more choice and flexibility. Power is personal. Customers can consider three rate plan options, based on when they use electricity, how much electricity they use, and what makes the most sense for their lifestyle,” said Sarah Hughes, GrandBridge Energy’s Vice-President of Corporate Services and CFO. “In addition to helping customers manage their energy bills, shifting electricity use to off-peak hours helps our distribution system by reducing strain on the grid at peak times, such as during extreme weather events.”
New Ultra-Low Overnight price plan (ULO) – Customers who choose this plan will be billed according to the day of the week and time of day they use electricity, but with an ultra-low overnight rate that encourages high electricity usage activities overnight when province-wide electricity demand is lower. This may benefit customers who shift high electricity usage activities, such as charging electric vehicles, laundry or running the dishwasher to lower-demand periods overnight. The plan has four price periods, including the ultra-low overnight period between 11:00 p.m. to 7:00 a.m. every day and a higher on-peak price for consumption between 4:00 p.m. to 9:00 p.m. on weekdays, when demand is usually higher. The ULO price periods are the same all year round.
Time-of-Use price plan (TOU) – Customers can shift high electricity activities, such as laundry or running the dishwasher, to off-peak periods, which are charged a lower rate. This plan has three periods: on-peak, when energy demand and pricing are highest; mid-peak, when energy demand and cost are moderate; and off-peak, when energy demand and cost are the lowest. Electricity prices change throughout the weekday when demand is on-peak.
Tiered price plan – Customers can use electricity at any time of the day at the same low price until a threshold is exceeded during the month; then, usage is charged at a higher price. In winter (November 1-April 30), the first threshold for residential customers is 1,000 kWh; in summer (May 1-October 31), the threshold is 600 kWh monthly. For small business customers, the threshold is 750 kWh throughout the year.