Electricity rates have gone up again.
They increased by 2 percent on Sunday, compared to pre-pandemic prices, while the government’s COVID-19 discount on hydro rates, which fixed prices at a lower cost, has also expired.
The provincial government says customers eligible for the Ontario Electricity Rebate (OER) will automatically receive a 33.2% reduction off their energy bill when new electricity rates for Regulated Price Plan (RPP) customers come into effect November 1, 2020.
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. Tiered electricity rates provide customers with a set rate for electricity up to a certain level of consumption.
The new prices for electricity are:
21.7 cents/kwh between 7-11 a.m. and 5-7 p.m. on weekdays (on-peak)
15 cents/kwh between 11 a.m. and 5 p.m. on weekdays (mid-peak)
10.5 cents/kwh between 7 p.m. and 7 a.m. on weekdays and on weekends (off-peak)
Ontario Energy Board
For more details, please click here.
Now that you can switch from Time-of-Use to Tiered prices, it’s important to learn the difference between the two. Learn more about the electricity price plans here: https://t.co/r10FXOdMHI pic.twitter.com/Xi5GhhTMGo
— Ontario Energy Board (@OntEnergyBoard) October 30, 2020
