The Ontario Energy Board has announced new electricity prices for households and small businesses, effective January 1st, under the Regulated Price Plan (RPP).
But it’s good news for a change, well sort of.
The board says the RPP prices have been lowered to reflect a significant change in the cost of supplying electricity to customers.
It says specifically, a portion of renewable energy contract costs currently funded by electricity ratepayers will now be funded by the Ontario Government.
However, the government is also decreasing the Ontario Electricity Rebate (OER) from 33.2% to 21.2% effective January 1 and that means typical residential customer bills will be held stable.
For more details on the new rates, please click here.
With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once you exceed the limit, a higher price applies. It doesn’t matter what time of day you use it – the cost is based on your total monthly consumption. Visit: https://t.co/r10FXOdMHI pic.twitter.com/deLg9c5DJs
— Ontario Energy Board (@OntEnergyBoard) December 15, 2020