Today, the Ontario Energy Board (OEB) announced new electricity prices for households and small businesses, effective November 1, under the Regulated Price Plan (RPP).
The winter Time-of-Use (TOU) hours and the winter Tier threshold for residential customers, which were maintained for the summer 2020 period, will remain in effect until November 1.
The total bill for a typical residential customer who uses 700 kWh per month will increase by about $2.24 or 1.97%, after accounting for the bill relief provided by the Ontario Electricity Rebate (OER), a total (pre-tax) bill credit that appears at the bottom of electricity bills. The Ontario government has increased that rebate from 31.8% to 33.2% effective November 1, 2020.
The Ontario Energy Board is also introducing new Pricing Plan Choices for customers. Effective November 1, 2020 customers can now choose between paying Time of Use rates or Tiered Pricing rates.
Learn more about the new choices and how to change between plans here.
Read the Ontario Energy Board announcement here
About Time-of-Use (TOU) rates
Under Time-of-Use (TOU) pricing, customers are charged according to the day of the week and time of day that they use electricity. This gives customers the option to shift higher electricity-use activities — such as laundry or running the dishwasher — to off-peak periods, which are charged at a lower rate.
There are three different TOU price periods: on-peak, mid-peak and off-peak.
TOU rates and price periods typically change twice a year (May 1 and November 1). Both the rates and price periods are set by the Ontario Energy Board (OEB).
November 1, 2020 Time of Use Rates:
On Peak – 21.7 ¢/kWh
Mid Peak – 15.0 ¢/kWh
Off – Peak – 10.5 ¢/kWh
Note: Currently, all TOU customers are paying the COVID-19 Recovery Rate of 12.8¢/kWh for all price periods. Please note that winter TOU rates will come into effect on November 1, 2020, and will be updated below once rates are announced by the OEB.
Winter pricing periods
To learn more about TOU rates, visit our Time of Use page.
About Tiered rates
Tiered pricing separates electricity consumption into two price tiers. Customers are charged one rate for electricity usage up to a certain amount of consumption (or threshold) per month, and a higher rate for electricity used above that amount.
The price threshold (the amount of electricity consumption that is charged at the lower price) is set by the Ontario Energy Board (OEB) and will typically change twice a year for residential customers.
Note: Updated Tiered rates as of November 1, 2020.
|Tier 1||Up to 1,000 kWh/month||12.6¢ per kWh|
|Tier 2||More than 1,000 kWh/month||14.6¢ per kWh|
|Tier 1||Up to 750 kWh/month||12.6¢ per kWh|
|Tier 2||More than 750 kWh/month||14.6¢ per kWh|