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, 2025. ULO hours remain unchanged.

The Winter Hours for Time-of-Use customers are in effect from November 1, 2024 until April 30, 2025.
The Winter Threshold for Tiered customers is in effect from November 1, 2024 until April 30, 2025.

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:

About TOU and Tiered Pricing under the RPP
Regulated Price Plan (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 change in RPP prices is mainly attributable to:

• A decrease in Global Adjustment payments to nuclear and natural gas generators.
• Lower-than-forecast supply costs over the past 12 months, which led to an over-collection (surplus) from RPP customers in the November 2023 to October 2024 period. This surplus is being returned to RPP consumers over the RPP period November 2024 to October 2025, i.e. prices are going down due to a surplus that has accumulated.

Any variance between forecast and actual costs, whether a surplus or shortfall, is factored into the next price-setting.

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)
Effective November 1, 2024, the Ontario government’s Ontario Electricity Rebate (OER) will change to 13.1% (a reduction from 19.3%).
The Ontario Electricity Rebate (OER) is an on-bill credit to eligible consumers including residential customers, small business and farms. It appears as a pre-tax credit at the bottom of electricity bills.