Beginning February 23, 2021, residential and small business customers will resume paying Time-of-Use and Tiered pricing under the Regulated Price Plan at prices that were set by the Ontario Energy Board on December 15, 2020.
Electricity distributors and other regulated entities are reminded that the fixed pricing of 8.5 ¢/kWh for Regulated Price Plan (RPP) consumers will expire at the end of the day on February 22, 2021. At the beginning of the day on February 23, 2021, RPP consumers will return to Time-of-Use and Tiered pricing at the RPP prices set by the OEB on December 15, 2020.
The OEB has released an updated variance settlement factor that is to be used by electricity distributors to calculate a one-time credit or charge for consumers who choose to stop purchasing electricity through the Regulated Price Plan. This factor is called the "Final RPP Variance Settlement Factor" and is updated on the OEB website monthly.