Toronto – Today the Ontario Energy Board announced new electricity prices. The new prices apply to most households and small businesses. This chart sums up time-of-use prices as of May 1, 2013:
All day weekends and holidays
|Mid-peak||Weekdays 7-11am and 5-7pm||10.4¢/kWh||(+0.5¢)|
The price change for consumers is an increase of approximately $3.63 on the “Electricity” line, or about 2.9% on the total monthly bill, for a household with a typical consumption pattern that uses 800 kWh per month. Residential consumers typically use about 64% of their electricity during off-peak hours and about 18% in each of the mid-peak and on-peak periods.
The Ontario Energy Board sets electricity prices twice each year based on updated cost estimates. Estimates for the coming year include more generation and increased costs from sources including renewables, nuclear and hydro-electric. Some of the estimated increase in these supply costs is offset by reduced payments to coal-fired plants.
The Ontario Energy Board is an independent and impartial public agency. We make decisions that serve the public interest. Our goal is to promote a sustainable and efficient energy sector that provides consumers with reliable energy services at a reasonable cost.
- The majority of households and small businesses in Ontario now pay time-of-use prices.
- Time-of-use prices vary based on when electricity is being used. They encourage consumers to use electricity during lower-cost time periods.
- Most Ontario households use about two-thirds of their power (64%) during off-peak hours.
- These price changes do not affect the small number of consumers who have contracts with electricity retailers.