The Ontario Energy Board (OEB) announced there will be little change to electricity prices on May 1, and that summer time-of-use (TOU) hours come into effect.
Customers who pay tiered prices will see no change to their electricity prices, but the tier threshold that applies in the summer period will come into effect on May 1.
For residential and small business customers that buy their electricity from their utility, the new TOU prices set by the OEB for May 1, 2019 under the Regulated Price Plan (RPP) are shown in the table below. The table also shows the hours to which those prices apply.
On March 22, 2019, the Ontario government introduced changes to the approach the OEB is required to follow when setting RPP prices for the May 1, 2019 to October 31, 2019 period. The revised regulation requires that prices are set so that the monthly bill for a proxy customer increases by the rate of inflation relative to the bill on May 1, 2018.
The proxy customer’s bill is determined by calculating a weighted average of provincewide delivery and regulatory charges, assuming consumption of 700 kWh/month and a TOU usage profile of 65% used in off-peak, 17% in mid-peak and 18% in on-peak. The new RPP prices will mean a monthly total bill increase of $1.63 for the proxy customer.
For more information please visit the OEB website.
The new RPP prices will be in effect until October 31, 2019.