Changes to time-of-use (TOU) pricing
As Ontarians continue to work and learn from home, the Government of Ontario is extending the suspension of TOU rates to provide consumers with greater stability and predictability with their electricity bills. A fixed electricity price, known as the COVID-19 Recovery Rate, of 12.8 cents per kWh, will be automatically applied to all TOU customers 24 hours a day, 7 days a week. This fixed electricity price will be in place from June 1 to October 31, 2020.
If you’re a residential or small business customer that pays Time-of-Use (TOU) electricity prices, you can choose to switch to Tiered prices beginning November 1, 2020.
With TOU, the price you pay depends on when you use electricity. With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once that limit is exceeded, a higher price applies.
If you want to continue paying TOU prices, no action is required. If you would like to learn more about your pricing options, visit www.oeb.ca/choice.