Electricity pricing for residential consumers is changing in Ontario.
The regulated rate for electricity will be moving from a fixed rate that is determined by how much you consume over a month, to a variable rate that is determined by what time of day and week you consume electricity.
Here's an overview of your energy options.
Most Ontario consumers pay tiered prices for electricity.
These are currently set at 6.5¢ for each kilowatt hour (kWh) used below the 600 kWh threshold, and 7.5¢ for each kWh above that threshold.
These prices are reviewed every six months by the Ontario Energy Board.
The introduction of smart meters in homes across Ontario paves the way for Time-of-Use pricing. This means that the time when you consume electricity determines how much you will pay for it. These prices, also determined by the OEB, are currently set at 9.9 ¢/kWh for on-peak, 8.0 ¢/kWh for mid-peak and 5.3 ¢/kWh for off-peak. Time-of-Use prices are being implemented by local distribution companies.
Some consumers may choose to sign retail contracts in which you pay a per kWh electricity price as agreed to by you and the retailer. The price you pay is usually guaranteed for a number of years.
The commodity or electricity cost is just one component of your bill. Learn more about other electricity charges for residential and small business consumers.
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