The Ontario Energy Board (OEB) has announced new electricity prices for households and small businesses, effective November 1st, under the Regulated Price Plan (RPP).
It says the total bill for a typical residential customer will increase by about $2.24 or just under 2%, after accounting for the bill relief provided by the Ontario Electricity Rebate (OER).
The Ontario government has increased that rebate from 31.8% to 33.2% effective November 1.
At the same time, customers paying Time-of-Use (TOU) rates under the RPP will also have the option to switch to tiered rate pricing.
Time-of-use electricity rates vary by time of day and are comprised of three different rate periods of off-peak, mid-peak and on-peak pricing, while tiered electricity rates provide customers with a set rate for electricity up to a certain level of consumption.
The province has also revised the eligibility requirements for the COVID-19 Energy Assistance Program (CEAP) and the COVID-19 Energy Assistance Program for Small Business (CEAP-SB).
For more details, please click here.
To support the Government of Ontario’s direction to allow customers to opt out of Time-of-Use (TOU) pricing, Hydro One has launched an online portal to make it easy for customers who want to make the switch to tiered pricing. No action is needed by customers who want to remain on TOU pricing. To switch to tiered pricing, Hydro One customers can fill out a form by clicking here.
Did you know Time-of-Use customers can choose their electricity price plan? Now you can switch to Tiered prices. Learn more about your options here: https://t.co/r10FXOdMHI pic.twitter.com/yWSiMaeK3c
— Ontario Energy Board (@OntEnergyBoard) October 13, 2020
You can now choose the electricity pricing that best suits your household, lifestyle or business, at any time. What to consider when making your decision🤔More information at https://t.co/IVnqXBmvG1 pic.twitter.com/TRxNJSh3Hb
— ElexiconEnergy (@ElexiconEnergy) October 14, 2020