Current Time of Use Period: Mid-Peak
Ontario introduced time-of-use (TOU) pricing to reflect the costs of producing electricity at different times of the day. There are three TOU periods:
- Off-peak, when energy demand is low and less expensive sources of electricity is used.
- Mid-peak, when the cost of energy and demand are moderate.
- On-peak, when demand is highest and more expensive forms of electricity production are used.
TOU pricing better reflects the true cost of power. That’s because you are charged more for electricity when it’s more expensive to produce. As a result, TOU encourages you to use power when rates are cheapest – during off-peak hours.
For example, you may now choose to run your dishwasher or do laundry after 7 p.m. Changing your behaviour this way helps:
- You… by lowering your bills
- The environment… by causing less greenhouse gas emissions
- Ontario’s electricity grid… by easing pressure during high-demand hours
With Time-of-Use rates, the price of electricity varies depending on when it is used.
The rate periods are different is the summer and winter months. With TOU rates, there is a financial incentive for you to conserve energy and shift consumption away from on-peak periods.
|Summer Weekdays||Winter Weekdays||Weekends & Holidays|
|May 1 to October 31||November 1 to April 30||Holiday Schedule|
|On-peak prices apply during the middle of the weekday, reflecting the increase use of air conditioners.||On-peak prices apply in the morning and evening, when demand ramps up as residential electricity use increases.||All hours of the day are off-peak.|
|Off-peak: 6.5¢/kWh||Mid-peak: 9.4¢/kWh||On-peak: 13.2¢/kWh|
Ontario introduced smart meters – along with Time-of-Use (TOU) pricing – to help you manage your electricity costs, while helping Ontario build a more efficient, environmentally sound electricity system.
A smart meter measures how much electricity you use and when you use it, and sends this information to Veridian on a daily basis through wireless technology.
What are the benefits of smart metering for you?
- Smart meters provide much more information to customers about their electricity use, helping customers take more control over their usage and bills.
- Customers can view their electricity consumption by the hour, day, month or billing period through Veridian’s customer portal – my.veridian.
- Smart meter data provides comprehensive, detailed information for electricity system planning – increasing our efficiency and lowering system costs.
Whether you live in an apartment or a house – four quick questions will reveal how you use electricity and show you ways to become more energy efficient.
Electricity used on weekends and holidays is charged the off-peak price during both the Winter and Summer periods. This page lists the holidays when off-peak prices are in effect. Note: If a holiday falls on a weekend, the following Monday will have off-peak prices in effect all day.
|Day of Off-peak Pricing||Holiday|
|Monday, January 1||New Year’s Day|
|Monday, February 19||Family Day|
|Friday, March 30||Good Friday|
|Monday, May 21||Victoria Day|
|Monday, July 2||Canada Day|
|Monday, August 6||Civic Holiday|
|Monday, September 3||Labour Day|
|Monday, October 8||Thanksgiving Day|
|Tuesday, December 25||Christmas Day|
|Wednesday, December 26||Boxing Day|