Ontario Energy Board sets new electricity prices for households and small businesses

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TORONTO, April 22, 2021 /CNW/ - Today the Ontario Energy Board (OEB) announced new, lower electricity prices for households and small businesses, effective May 1, 2021, under the Regulated Price Plan (RPP). The summer Time-of-Use (TOU) hours, and the summer Tier threshold for residential customers, will also come into effect May 1, 2021.

Typical residential customer bills to be held stable

The Government is also decreasing the Ontario Electricity Rebate (OER) from 21.2% to 18.9% effective May 1, 2021. The Government's intention is that, for residential and small business customers, the reduction in the electricity price will be offset by the change in the OER. The OER is a total pre-tax credit that appears at the bottom of electricity bills. As a result of lower RPP prices and the reduced OER, typical residential customer bills will be held stable. The typical residential RPP customer uses 700 kWh of electricity per month.

New RPP prices starting May 1, 2021

The new RPP TOU prices set by the OEB for May 1, 2021 are shown in the table below. The table also shows the hours during which those prices apply:

Summer TOU Price Periods

May 1, 2021

TOU Prices

Off-Peak
(Weekdays 7 p.m. – 7 a.m., all day weekends and holidays)

8.2¢/kWh

Mid-Peak
(Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.)

11.3¢/kWh

On-Peak
(Weekdays 11 a.m. – 5 p.m.)

17.0¢/kWh

The table below shows the new RPP Tier prices and summer Tier threshold that apply to residential customers paying Tiered prices:

Summer Tier Thresholds

May 1, 2021

Tiered Prices

Tier 1

Residential – first 600 kWh/month

Non-residential – first 750 kWh/month

9.8¢/kWh

Tier 2

Residential – for electricity used above 600 kWh/month

Non-residential – for electricity used above 750 kWh/month

11.5¢/kWh

Power is personal

Residential and small business customers can choose their price plan, either TOU or Tiered pricing. Customers are not required to select a price plan but if they wish to switch, they must notify their utility by completing and submitting an election form. Customers can contact their utility or visit their utility's website for the election form.

Programs to support electricity customers

There are several programs in place to support electricity customers at this time, including:

The OEB has also prohibited electricity distributors from issuing disconnection notices to residential customers for the duration of the provincewide stay-at-home measures. The earliest date a distributor may issue a disconnection notice is May 20.

Additional Information and Resources

About the Ontario Energy Board

The OEB is the independent regulator of Ontario's electricity and natural gas sectors. It protects consumers and makes decisions that serve the public interest. Its goal is to promote a sustainable and efficient energy sector that provides consumers with reliable energy services at a reasonable cost.

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SOURCE Ontario Energy Board

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