OEB announces changes to electricity prices for households, small business and farms

The Ontario Energy Board (OEB) announced today that electricity prices under the Regulated Price Plan (RPP) for households, small business and farms will increase as of November 1, 2023. The winter Time-of-Use (TOU) hours and the change in the threshold for residential customers on Tiered pricing will take effect November 1 as usual.

 

 

Also effective November 1, 2023, the Ontario government’s Ontario Electricity Rebate (OER) will increase to 19.3%. The OER provides a rebate on the electricity bill of residential, small business and farm customers. For a typical residential customer[1] who uses 700 kWh of electricity per month, the OER will decrease bills by about $26 each month.

[1] The total bill impact for individual customers across the province may vary depending on the customer’s electricity usage and the utility that serves them.

 

The TOU prices set by the OEB for November 1, 2023 are shown in Table 1 below. The table also shows the hours to which those prices apply.

Winter TOU Price Periods November 1, 2023 TOU Prices
Off-Peak
Weekdays 7 p.m. – 7 a.m., all day weekends and holidays
8.7 ¢/kWh
Mid-Peak
Weekdays 11 a.m. – 5 p.m.
12.2 ¢/kWh
On-Peak
Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.
18.2 ¢/kWh

 

The table below shows the prices for customers on the Tiered price plan as well as the kilowatt-hour thresholds. The seasonal change in the threshold for residential customers provides for an additional 400 kWh/month at the lower price in the Winter:

Winter Tier Thresholds November 1, 2023 Tiered Prices
Tier 1 Residential – first 1,000 kWh/month
Non-residential – first 750 kWh/month
10.3 ¢/kWh
Tier 2 Residential – for electricity used above 1,000 kWh/month
Non-residential – for electricity used above 750 kWh/month
12.5 ¢/kWh

 

The table below shows the prices for customers on the Ultra Low Overnight (ULO) price plan. The table also shows the hours to which those prices apply.

ULO Price Periods (Year-round) November 1, 2023 ULO Prices
ULO Ultra-Low Overnight
Every day 11 p.m. – 7 a.m.
2.8 ¢/kWh
ULO Weekend Off-Peak
Weekends and holidays 7 a.m. – 11 p.m.
8.7 ¢/kWh
ULO Mid-Peak
Weekdays 7 a.m. – 4 p.m. and 9 p.m.  – 11 p.m.
12.2 ¢/kWh
ULO On-Peak
Weekdays 4 p.m. – 9 p.m.
28.6 ¢/kWh

 

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