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November 1, 2023 – New Time-of-Use (TOU), Ultra-Low Overnight (ULO) and Tiered prices. And on-bill OER credit to increase.

Oct 30, 2023

Also, Winter TOU hours and the change in the Tier threshold for residential customers on Tiered pricing will take effect November 1 as usual and remain in place until April 30, 2024. ULO hours remain unchanged.

The Winter Hours for Time-of-Use customers are in effect from November 1, 2023 until April 30, 2024.
The Winter Threshold for Tiered customers is in effect from November 1, 2023 until April 30, 2024.

The new Winter Time-of-Use, Ultra Low Overnight and Tiered Regulated Price Plan prices, as set by the Ontario Energy Board, are shown in the tables below as well as the Winter hours and thresholds during which those prices apply:

Winter TOU PricesNov 1, 2023 TOU prices
Weekdays 7 p.m. – 7 a.m., all day weekends and holidays
8.7 ¢/kWh
Weekdays 11 a.m. – 5 p.m.
12.2 ¢/kWh
Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.
18.2 ¢/kWh

ULO PeriodsNov 1, 2023 ULO Prices
ULO Ultra-Low Overnight
Every day 11 p.m. – 7 a.m.
2.8 ¢/kWh
Weekends and holidays 7 a.m. – 11 p.m.
8.7 ¢/kWh
Weekdays 7 a.m. – 4 p.m. and 9 p.m. – 11 p.m.
12.2 ¢/kWh
Weekdays 4 p.m. – 9 p.m.
28.6 ¢/kWh
Winter Tier ThresholdsNov 1, 2023
Tiered prices
Tier 1Residential – first 1,000 kWh/month*
Non-residential – first 750 kWh/month
10.3 ¢/kWh
Tier 2Residential – for electricity used above 1,000 kWh/month*
Non-residential – for electricity used above 750 kWh/month
12.5 ¢/kWh
* Note Residential threshold increased from 600 kWh (summer) to 1,000 kWh (winter)

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. The Ontario Energy Board, (OEB) sets RPP prices every year to reflect the forecast cost of supplying RPP customers and any variance between forecast and actual costs from the prior period. The increase in RPP prices is mainly attributable to:

  • An increase in the forecast payments to nuclear and natural gas generators.
  • Higher-than-forecast supply costs over the past 12 months, which led to an under-collection from RPP customers in the November 2022 to October 2023 period.
  • Lower forecasted wholesale electricity market prices, which increases the costs paid by RPP customers.

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), Ultra-Low Overnight (ULO) and Tiered prices:

  • With TOU and ULO pricing, the price depends on when customers use electricity. This means customers can help manage their electricity costs by shifting their usage to lower price periods when possible.
  • Under Tiered pricing, a customer can use a certain amount of electricity each month at a lower price. A higher price applies to electricity used above that limit. In the winter period (November 1 – April 30), the Tier threshold for residential customers is 1,000 kWh, so that during the heating season households can use more power at the lower price. In the summer period (May 1 – October 31), the Tier threshold for residential customers is 600 kWh. The Tier threshold for non-residential customers is 750 kWh all year round.

More information can be found on our website at TOU or Tier or ULO or at the Ontario Energy Board’s website oeb.ca/choice

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 set the OER at 19.3% effective November 1, 2023 (an increase from 11.7%) to ensure the average residential bill increase is held to about 2% annually.