Electricity prices remain virtually unchanged starting May 1

The Ontario Energy Board (OEB) today announced that there will be little change to electricity prices on May 1.

For residential and small business customers that buy their electricity from their utility, the new time-of- use (TOU) prices set by the OEB for May 1, 2018 under the Regulated Price Plan (RPP) are shown in the table below. The table also shows the hours to which those prices apply in the summer period.

TOU price period Summer period hours
May 1 to October 31
TOU prices effective May 1, 2018 to April 30, 2019 Change
Off-Peak Weekdays 7 p.m. – 7 a.m.
All day weekends and holidays
6.5 ¢/kWh No change
Mid-Peak Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m. 9.4 ¢/kWh Down 0.1 ¢/kWh
On-Peak Weekdays 11 a.m. – 5 p.m. 13.2 ¢/kWh No change

 

The table below shows the same set of RPP prices for customers who pay tiered prices, and also shows the tier threshold that applies in the summer period.

Price tiers Summer tier threshold
May 1 to October 31
Tiered prices effective May 1, 2018 to April 30, 2019 Change
Tier 1

Residential customers: for the first 600 kWh of electricity used per month

 

Non-residential customers: for the first 750 kWh/month of electricity used per month

7.7 ¢/kWh No change
Tier 2

Residential customers: for electricity used above 600 kWh/month

 

Non-residential customers:  for electricity used above 750 kWh/month

8.9 ¢/kWh Down 0.1 ¢/kWh

 

As required under the Ontario Fair Hydro Plan Act, 2017, the OEB has set the RPP (TOU and tiered) prices such that the monthly bill for the proxy customer described under the Ontario Fair Hydro Plan Act, 2017 increases by the rate of inflation relative to the bill on July 1, 2017.  

The RPP prices apply to residential and small business customers that buy their electricity from their utility.  For other customers that are eligible under the Ontario Fair Hydro Plan Act, 2017, the OEB sets a credit that reduces their Global Adjustment (GA) charges. These customers include those that are eligible for the RPP but have chosen a contract with an energy retailer or market-based pricing. The credit is designed to provide these customers with a level of benefit that corresponds with the benefit being provided to the proxy customer through the RPP prices announced today. The GA credit set by the OEB effective May 1, 2018 is $44.38/MWh or 4.4 ¢/kWh.  It is based on the difference between what RPP prices would have been on May 1, 2018 without the Ontario Fair Hydro Plan Act, 2017 and the new RPP prices that have been set by the OEB effective May 1, 2018. 
 
The new RPP prices and the GA credit will be in effect until April 30, 2019.

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