Ontario Provides Stable Electricity Pricing for Industrial and Commercial Companies by providing predictable electricity rates for two years

An announcement was made Friday June 26^th by the Ontario Ministry of Energy, Northern Development and Mines regarding the Industrial Conservation Initiative.

The Ontario Government is implementing an Industrial Conservation Initiative (ICI) peak hiatus for ICI participants to allow industrial and commercial businesses to focus on recovering from the impacts of COVID-19. Class A customers will not need to anticipate and reduce their electricity demand during peak hours as they return to full levels of operation. Class A customers will maintain their peak demand factor from the 2019-20 period to determine their global adjustment charges in 2021-22.

For clarification:

Customer peak demand factor rates for the ICI program period July 2020 to June 2021 are as per the letter from Wellington North Power dated May 21^st. This does not impact billing for the upcoming Adjustment Period (July 1, 2020 to June 30, 2021).

The information above relates to the ICI program period July 2021 to June 2022. The reasoning is that it will be difficult for customers to anticipate and respond to peak hours, hence the ICI peak hiatus.

For additional information, refer to the Ministry’s news release by clicking the link below:

https://news.ontario.ca/mndmf/en/2020/06/ontario-provides-stable-electricity-pricing-for-industrial-and-commercial-companies