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OEB Announces New Electricity Rates Starting on November 1, 2022
Published Date
Friday, October 21, 2022
The Ontario Energy Board (OEB) announced today that electricity prices for households and small businesses will be lowered as of November 1, 2022 under the Regulated Price Plan (RPP). The winter Time-of-Use (TOU) hours and the change in the threshold for residential customers on Tiered pricing will take effect November 1 as usual.
Also effective November 1, 2022, the Ontario government's Ontario Electricity Rebate (OER) will be changed to 11.7%. The OER is a pre-tax credit that appears at the bottom of electricity bills. For a typical residential customer* who uses 700 kWh of electricity per month, the OER would decrease bills by about $13.91 each month.
The Winter Time-of-Use prices and the Winter Tiered thresholds and prices are shown in the charts below:
|
|
November 1, 2022 TOU Prices |
|---|---|
|
Off-Peak (Weekdays 7 p.m. - 7.a.m., all day weekends and holidays) |
7.4 ¢/kWh |
|
Mid-Peak (Weekdays 11 a.m. - 5 p.m.) |
10.2 ¢/kWh |
|
On-Peak (Weekdays 7 a.m. - 11 a.m. and 5 p.m. - 7 p.m.) |
15.1 ¢/kWh |
|
Winter Tier Thresholds |
November 1, 2022 Tiered Prices |
|
|---|---|---|
| Tier 1 |
Residential - first 1,000kWh/month
Non-residential - first 750 kWh/month |
8.7 ¢/kWh |
| Tier 2 |
Residential - for electricity used above 1,000 kWh/month
Non-residential - for electricity used above 750 kWh/month |
10.3 ¢/kWh |
* The total bill impact for individual customers across the province may vary depending on the customer's electricity usage and the utility that serves them.