Cheapest times to use electricity in Ontario once changes come Nov. 1

The Ontario Energy Board (OEB) has updated electricity rates for the province, with new prices set to take effect on Nov. 1.

Winter regulations will also kick in on the same date.

Electricity customers in Ontario have three options for billing: time-of-use and ultra-low overnight, with prices changing depending on when power is used; customers can also choose a tiered plan, with costs depending on how much electricity is used overall in a month.

Most customers in Ontario pay time-of-use rates.

Since 2022, the Ontario Energy Board has set prices annually on Nov. 1, with seasonal changes to when certain rates are paid still taking effect twice a year, except for ultra-low overnight plans.

Here is a look at the new rates in Ontario, including at what times it’s cheapest to use power for time-of-use and ultra-low overnight plans, as of Nov. 1:

OEB

The OEB says less than one in 10 customers in Ontario buy their electricity directly from a retailer.

“If you’re thinking about signing an energy contract, you will pay the price in the contract, which is not regulated by the Ontario Energy Board,” the board notes.