Regulated Price Plan
If you are a Time-of-Use (TOU) customer, you now have a choice. You can choose to switch to Tiered prices. Residential and Small business consumers, with Smart meters installed, are defaulted to TOU pricing effective November 1, 2020. The thresholds and rates are set by the Ontario Energy Board (OEB) and change twice a year - for the Winter Season (November 1 to April 30) and Summer Season (May 1 to October 31). If you have a contract with an electricity retailer, you pay the price agreed upon in the contract, not the price set by the OEB.
Time-of-Use (TOU) Rates
With TOU, customers pay rates that generally reflect the value of electricity supply at different times of the day. There are three TOU periods - on-peak, mid-peak and off-peak. Prices are highest during on-peak, lower during mid-peak and lowest during off-peak.
TOU periods are different in the summer than they are in the winter. The difference reflects the seasonal variations and the customer's lifestyle and how they use electricity. During the summer, people use more electricity during the hottest part of the day, while in winter, with less daylight, electricity use peaks twice: in the morning and when people return home from work.
Under Tiered rates, the price does not change depending on the time of day the customer uses electricity; instead, it changes depending on how much electricity the customer uses in a month.
A Tiered rate customer can use a certain amount of electricity each month at a lower rate. Once the limit is exceeded the rate goes up. The threshold for the limits are established by the OEB and change during the Summer and Winter Seasons.
For more information, please visit oeb.ca or contact us.