Hydro users will see lower electricity costs this winter.
The Ontario Energy Board has approved rate changes that take effect November 1st.
For customers on Time-of-Use plans, the lowest rate falls by almost 1.5 cents per kilowatt hour, while the highest rate decreases by 2.5 cents.
Customers on tiered and ultra-low rate plans will see no changes to their rates, though the threshold at the lower rate will increase an additional 400 kWh/month.
There is also a change to the Ontario Electricity Rebate that will result in further savings for residential, small business and farm customers.
The Ontario Energy Board says the average homeowner should see a $17 decrease in their electrical costs every month.
Winter TOU Prices, Effective November 1, 2024
TOU Prices
Off-Peak – Weekdays 7 p.m. – 7 a.m., all day weekends and holidays 7.6 ¢/kWh
Mid-Peak – Weekdays 11 a.m. – 5 p.m. 12.2 ¢/kWh
On-Peak – Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m. 15.8 ¢/kWh
Winter Tiered Prices, Effective November 1, 2024
Tiered Prices
Tier 1 Residential – first 1,000 kWh/month
Non-residential – first 750 kWh/month 9.3 ¢/kWh
Tier 2 Residential – for electricity used above 1,000 kWh/month
Non-residential – for electricity used above 750 kWh/month 11.0 ¢/kWh
Ultra Low Overnight (ULO) Price Plan, Effective November 1, 2024
ULO Ultra-Low Overnight – Every day 11 p.m. – 7 a.m. 2.8 ¢/kWh
ULO Weekend Off-Peak – Weekends and holidays 7 a.m. – 11 p.m. 7.6 ¢/kWh
ULO Mid-Peak – Weekdays 7 a.m. – 4 p.m. and 9 p.m. – 11 p.m. 12.2 ¢/kWh
ULO On-Peak – Weekdays 4 p.m. – 9 p.m. 28.4 ¢/kWh
