January 10-22 - The Ontario government has announced that electricity prices are to be set at the off-peak price of 8.2 cents per kilowatt-hour, 24 hours per day for 21 days starting January 18, 2022, until the end of day February 7, 2022, for all Regulated Price Plan customers. The off-peak rate will apply automatically to residential, small businesses and farms who pay Time-of-Use or Tiered prices set by the Ontario Energy Board.
This rate relief is intended to support small businesses, as well as workers and families spending more time at home while the province is in Modified Step Two of the Roadmap to Reopen.
As part of our mandate, we set the rates that your utility charges for the electricity you use in your home or small business. These rates appear on the Electricity line of your bill. We also set the Delivery rates that cover the cost to deliver electricity to most residential and small business customers.
On this page:
- Types of electricity rates
- Current prices
- Energy contracts
- Global adjustment
- Calculate your electricity bill
For residential and small business customers that buy electricity from their utility, there are two different types of rates (also called prices here). The Ontario Energy Board sets both once a year on November 1:
With TOU prices, the price depends on when you use electricity.
There are three TOU price periods:
- Off-peak, when demand for electricity is lowest. 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 computers and running heaters or air conditioners.
With TOU pricing, you can help manage your electricity costs by shifting your usage to lower price periods when possible.
People use electricity differently depending on the season, so the TOU price periods are different in the summer than they are in the winter. No matter which season, on weekends and holidays the cheapest rates are in effect all day. View the Time-of-Use holiday schedule.
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. The threshold changes with the season to reflect changing usage patterns – for example, there are fewer hours of daylight in the winter 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 during the heating season 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. The Tier threshold for small business customers 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.
If you pay TOU prices, you can now choose to switch to Tiered prices. Read more about choosing your electricity price plan.
For customers that have signed up for a contract with an energy retailer, the price is set out in the contract. The Ontario Energy Board does not regulate this. Read more about contracts.
The Time-of-Use and Tiered prices set by the OEB for November 1, 2021 are shown in the table below. View historical electricity prices.
|Time-of-Use Price Periods - WINTER||Time-of-Use Prices|
(Weekdays 7 p.m. – 7 a.m., all day weekends and holidays)
(Weekdays 11 a.m. – 5 p.m.)
(Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.)
|Tier Thresholds - WINTER||Tiered Prices|
Residential – first 1,000 kWh/month
Non-residential – first 750 kWh/month
Residential – for electricity used above 1,000 kWh/month
Non-residential – for electricity used above 750 kWh/month
Fewer than 1 in 10 customers in Ontario buy their electricity from an electricity retailer. If you’re thinking about signing an energy contract, you will pay the price in the contract, which is not regulated by the Ontario Energy Board. Learn more about energy contracts.
Most electricity generating companies get a guaranteed price for the electricity that they produce. The Global Adjustment is the difference between that guaranteed price and the money the generators earn in the wholesale marketplace. The Global Adjustment also covers the costs of some conservation programs.
All electricity consumers have to pay a share of the Global Adjustment. The Time-of-Use and Tiered prices charged by your electricity utility already include an estimate of the Global Adjustment. If you sign up for a contract with an energy retailer, you have to pay your share of the Global Adjustment on top of the contract price. The Global Adjustment will also appear as a separate line on your bill.
Visit the Independent Electricity System Operator (IESO) website for more information on the Global Adjustment.
Electricity distribution utilities deliver electricity to your home or business and also issue your bill, unless you are a customer of a unit sub-metering provider. Use our calculator to estimate your monthly bill. You can also compare your current bill with what to expect if you sign a contract with an electricity retailer.