Ontario’s new electricity prices increased effects as of Nov. 1
Nov. 22, 2019
Global Korean Post
The Ontario Energy Board (OEB) announced on Oct. 22 that new electricity prices for households and small businesses, effective November 1, under the Regulated Price Plan (RPP). The winter time-of-use (TOU) hours will also take effect November 1.
The total bill for a typical residential customer who uses 700 kWh per month will increase by about $1.99 or 1.8%, which is in line with the rate of inflation, as a result of the following changes:
With changes in legislation, prices on the Electricity line are increasing so that they once again closely reflect the forecast cost of supply. As well, the increase in prices reflects the fact that the forecast cost of supply has gone up relative to what it was on May 1, 2019 due in part to refurbishment of nuclear facilities and new generation facilities coming online.
The Ontario government has introduced an expanded rebate (the Ontario Electricity Rebate) providing bill relief that will be applied to customer bills, largely offsetting the price changes on the Electricity line.
The new TOU prices set by the OEB for November 1, 2019 under the RPP are shown in the table below. The table also shows the hours to which those prices apply:
