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.
How The Ontario Clean Energy Benefit (OCEB) Works
Effective January 1, 2011 the OCEB offers a 10 per cent reduction on the total electricity portion of the bill for residential and small business customers and extends for five years. expiring December 31, 2015.
- Effective September 1, 2012, the OCEB is limited to the first 3,000 kilowatt hours (kWh) of electricity used per month.
- All charges except fees such as late penalty fees, connect fees, reconnect fees, NSF fees are included in the calculation. HST on the eligible charges are also included the calculation. Prior balances are not included.