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Ontario Energy Board Sets New Electricity Prices for Households and Small Businesses
Published Date
Friday, April 23, 2021
Today the Ontario Energy Board (OEB) announced new, lower electricity prices for households and small businesses, effective May 1, 2021, under the Regulated Price Plan (RPP).
The summer Time-of-Use (TOU) hours, and the summer Tier threshold for residential customers, will also come into effect May 1, 2021.
Typical residential customer bills to be held stable
The Government is also decreasing the Ontario Electricity Rebate (OER) from 21.2% to 18.9% effective May 1, 2021. The Government's intention is that, for residential and small business customers, the reduction in the electricity price will be offset by the change in the OER. The OER is a total pre-tax credit that appears at the bottom of electricity bills. As a result of lower RPP prices and the reduced OER, typical residential customer bills will be held stable. The typical residential RPP customer uses 700 kWh of electricity per month.
New RPP prices starting May 1, 2021
The new RPP TOU prices set by the OEB for May 1, 2021 are shown in the table below. The table also shows the hours during which those prices apply:
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The table below shows the new RPP Tier prices and summer Tier threshold that apply to residential customers paying Tiered prices:
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