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Choosing your electricity price plan

Did you know that you can now choose which rate plan better suits your energy needs and lifestyle?

If you're a residential or small business customer you can currently choose to switch between Time-of-Use (TOU) and Tiered prices.  Beginning May 01, 2023 electricity utilities that are ready can offer the Ultra-Low Overnight (ULO) price plan.  By November 01, 2023, all utilities must offer ULO to their customers.

With TOU and ULO, the price depends on when you use electricity.  This means you can help manage your electricity costs by shifting your usage to lower price periods when possible.

With Tiered, the price depends on how much electricity you use overall in a month.

If you are a residential or small business customer billed under the Regulated Price Plan (RPP) and want to change your rate plan you can submit an RPP ELECTION FORM to Renfrew Hydro.

Time-of-Use (TOU) Rates

With TOU prices, the price depends on when you use electricity.  You can help manage your electricity costs by shifting your usage to lower price periods when possible.

 

With TOU, there are three price periods:

 

  • Off-peak: When demand for electricity is generally lower. Ontario households use most of their electricity – nearly two thirds of it – during off-peak hours.

  • Mid-peak: When demand for electricity is moderate. These periods are during the daytime, but not the busiest times of day.

  • On-peak: When demand for electricity is generally higher. These are the busier times of day – generally when people are cooking, starting up their personal electronics and running heaters or air conditioners.

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Ultra-Low Overnight (ULO) Rates

With TOU prices, the price depends on when you use electricity.  You can help manage your electricity costs by shifting your usage to lower price periods when possible.

With ULO, there are four price periods:

 

  • Ultra-Low Overnight: When demand for electricity is lowest on average.

  • Weekend Off-peak: When demand for electricity is generally lower.

  • Mid-peak: When demand for electricity is moderate.

  • On-peak: When demand for electricity is highest on average

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Tiered Rates

With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once that limit (called a threshold) is exceeded, a higher price applies. For residential customers, the threshold normally changes with the season to reflect changing usage patterns – for example, there are fewer hours of daylight in the winter, increasing lighting use, and some customers use electric heating.

 

In the winter period (November 1 – April 30), the Tier threshold for residential customers is 1,000 kWh so that households can use more power at the lower price. In the summer period (May 1 – October 31), the Tier threshold for residential customers is 600 kWh.

 

For small business customers, the Tier threshold is 750 kWh all year round.

 

Tiered prices give you the flexibility to use electricity at any time of day at the same price, although that price will change if you exceed the threshold during the month.

Considering a Switch?

Compare TOU, ULO and Tiered prices using the Ontario Energy Board's online bill calculator.

For more information, please visit oeb.ca , take a look at our FAQ or contact us directly.

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