Ontario Cuts Electricity Rate For 21 Days
The Ontario government is providing 21 days of electricity-rate relief to support families and workers spending more time at home, as well as small businesses, consistent with the length of time the province is in modified Step Two public health measures. As of 12:01 AM today electricity prices are lowered to the off-peak rate of 8.2 cents per kilowatt-hour — less than half the on-peak rate — 24 hours per day.
“Effective today, families and small businesses will benefit from 21 days of electricity rate relief as our government implements the off-peak rate,” said Todd Smith, Minister of Energy in a news release. “The off-peak rate, which is less than half the on-peak rate, will provide immediate savings as Ontarians spend more time at home and work together to slow the spread of the Omicron variant.”
Electricity customers won’t have to do anything to benefit from the rate cut, it will be applied automatically to both Time-of-Use and Tiered rate plans on the bills of residential customers, small businesses and farms who pay regulated rates set by the Ontario Energy Board (OEB).
Implementation of the off-peak rate builds on existing programs introduced by government to reduce electricity prices including the Ontario Electricity Rebate (OER), which provides a 17 per cent rebate on the subtotal of the electricity bill of eligible customers including households, small businesses and farms. Eligible customers will continue to benefit from the OER while off-peak pricing is in place.
“We extend our thanks to Local Distribution Companies, as well as the Ontario Energy Board who have worked quickly to ensure the off-peak rate is applied automatically to bills, providing a seamless experience for both Time-of-Use and Tiered customers, ” said Minister Smith.