COVID-19 Recovery Rate effective June 1, 2020
The Government of Ontario has introduced a COVID-19 Recovery Rate of 12.8¢/kWh for all time-of-use (TOU) electricity customers. Households, farms and small businesses who pay TOU electricity rates will be charged this fixed rate 24 hours a day, seven days a week, for electricity consumed starting on June 1, 2020.
This rate will be automatically reflected on TOU customers’ electricity bills for all three TOU periods, 24 hours a day, seven days a week, and is intended to be in place until October 31, 2020.
Electricity rates in Ontario are set by the Ontario Energy Board (OEB). Rates are calculated using a 12-month forecast that helps make pricing more stable, predictable and fair both for users and for generators.
With Time-of-Use (TOU) pricing, the price of electricity depends on when you use it. There are three different prices for electricity: On-Peak, Mid-Peak and Off-Peak.
- The majority of households and small businesses in Ontario now pay time-of-use prices.
- Time-of-use prices vary based on when electricity is being used. They encourage consumers to use electricity during lower-cost time periods.
- Most Ontario households use about two-thirds of their power (64%) during off-peak hours.
- These price changes do not affect the small number of consumers who have contracts with a company that sells electricity under contract.