NT Power is launching a new electricity price plan - the Ultra Low Overnight (ULO) price plan.
The new option is available for residential and small business customers, enabling "more choice and greater control over their electricity bills," the electrical distributor said in a news release.
NT Power is a local electricity distribution company licensed by the Ontario Energy Board and jointly owned by the municipalities of Newmarket and Tay.
It serves 50,000 customers in Newmarket, Midland and Tay.
Under the ultra low overnight plan, four price periods apply on weekdays:
- between 7 a.m. and 4 p.m. is mid-peak
- 4 to 9 p.m. is on-peak
- 9 to 11 p.m. is mid-peak
- 11 p.m. to 7 a.m. is the ultra-low overnight period
Weekends and statutory holidays are off-peak, and from 7 a.m. until 11 p.m., the ultra-low overnight price period is in effect.
These price periods remain consistent throughout the year, unlike tiered and time-of-use price plans that update on May 1 and Nov. 1 each year, NT power said.
Customers interested in learning more about the new ULO price plan can visit the electricity rates page under the accounts and services menu on the NT Power website (ntpower.ca).
A form is available on the page that can be completed and returned to change your current rate plan. Customers who wish to remain on their current price plan are not required to take any action.
“With the introduction of the Ultra-low Overnight Price Plan, customers can now choose from three regulated price plans and find the one that fits their needs and lifestyle to allow access to the lowest rates at times when their consumption is higher," Ysni Semsedini, president & CEO of NT Power said.
"Along with our launch of Green Button platform access, this is another step toward offering increased choice to our customers and supporting them in taking a more hands-on approach to managing their energy costs and consumption and being able to design their services to meet their unique needs.”
“We consistently strive to ensure that our customers have a positive experience and all the information needed to make informed decisions about their service and consumption," said Kelly McCann, vice-president of customer and employee experience at NT Power.
"On our website, customers can access more information about the three regulated price plans, frequently asked questions, and links to resources that will assist them in evaluating what price plan is the best fit for their home or small business. We also invite customers to contact our customer service team with any questions, and our representatives will be more than happy to help.”
