Types of Electricity Rates

For customers that buy electricity from their utility, there are two different types of rates. The Ontario Energy Board sets both of these rates twice per year in May and November and adjust as required.

The RPP prices were lowered on December 15, 2020, for rates effective January 1, 2021, to reflect a significant change in the cost of supplying electricity to RPP customers. Specifically, a portion of renewable energy contract costs currently funded by electricity ratepayers will now be funded by the Ontario Government. This initiative was announced as part of the 2020 Ontario Budget, and a new regulation has been made to support the initiative.

• Time-of-use - Most residential and small business customers are charged using time-of-use rates, where the rate depends on when you use electricity. Find out more about time-of-use rates and managing your electricity costs.
• Tiered - A small number of customers are still paying tiered rates, where a customer uses a certain amount of energy each month at a lower rate. Once you exceed that limit, the rate goes up. Read more about tiered rates.

Time of Use

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

Tiered

The table below shows the new prices for customers paying Tiered prices:

Retail Contracts

Customers that purchase their electricity from a licensed retailer the rates are set in the individual customer contracts. The OEB does not set these rates.