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New Time of Use & Tiered Electricity Prices from November 1, 2022

Oct 26, 2022

The Ontario Energy Board (OEB) has announced that electricity prices for households and small businesses will change as of November 1, 2022 under the Regulated Price Plan (RPP). The winter Time-of-Use (TOU) hours and the change in the Tier threshold for residential and small businesses customers on Tiered pricing will take effect November 1 2022.
Also effective November 1, 2022 the government’s Ontario Electricity Rebate (OER) will change to 11.7% (from 17.0%). The OER is a pre-tax on-the-bill credit that appears at the bottom of electricity bills.

The Regulated Price Plan prices set by the OEB for November 1, 2022 are shown in the table below as well as the hours during which those prices apply:

Winter TOU PricesNovember 1, 2022 TOU prices
Off-Peak
(Weekdays 7 p.m. – 7 a.m., all day weekends and holidays)
7.4 ¢/kWh
Mid-Peak
(Weekdays 11 a.m. – 5 p.m.)
10.2 ¢/kWh
On-Peak
(Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.)
15.1 ¢/kWh
 Winter Tier ThresholdsNovember 1, 2022
Tiered prices
Tier 1Residential – first 1,000 kWh/month*
Non-residential – first 750 kWh/month
8.7 ¢/kWh
Tier 2Residential – for electricity used above 1,000 kWh/month*
Non-residential – for electricity used above 750 kWh/month
10.3 ¢/kWh
* Note Residential threshold increased from 600 kWh (summer) to 1,000 kWh (winter)

Ontario Electricity Rebate (OER)
The Ontario Electricity Rebate (OER) is an on-bill credit to eligible consumers including residential customers, small business and farms.
The Government of Ontario has announced the OER will be changing from 17.0% to 11.7% effective November 1, 2022 to ensure the average residential bill increase is held to about 2% annually.

About TOU and Tiered Pricing under the RPP
RPP prices are set based on a forecast of how much it will cost to supply RPP customers with the electricity they are expected to use over the next 12 months. Any variance between forecast and actual costs, whether a surplus or shortfall, is factored into the next price-setting. Prices are going down due to a surplus that has accumulated.
TOU and Tiered prices are set so that both recover the same forecast average cost of supply for a typical customer.

If you’re a residential or small business customer, you can choose to switch between Time-of-Use (TOU) and Tiered prices:
– 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.

More information can be found at Customer Choice or at the Ontario Energy Board’s website oeb.ca/choice