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The Ontario Energy Board (OEB) announced today that electricity prices under the Regulated Price Plan (RPP) for households, small business and farms will change as of November 1, 2024. Winter Time-of-Use (TOU) hours and the change in threshold for residential customers on Tiered pricing will also take effect.
Also, effective November 1, 2024, the Ontario government’s Ontario Electricity Rebate (OER) will change to 13.1%. The OER provides a rebate on the electricity bill subtotal for 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 $17 each month.
Table 1 shows the TOU prices set by the OEB for November 1, 2024, and the hours to which those prices apply:
| Winter TOU Price Periods | November 1, 2024
TOU Prices |
|---|---|
| Off-Peak Weekdays 7 p.m. – 7 a.m., all day weekends and holidays |
7.6 ¢/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. |
15.8 ¢/kWh |
Table 2 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, 2024
Tiered Prices |
|
|---|---|---|
| Tier 1 | Residential – first 1,000 kWh/month Non-residential – first 750 kWh/month |
9.3 ¢/kWh |
| Tier 2 | Residential – for electricity used above 1,000 kWh/month Non-residential – for electricity used above 750 kWh/month |
11.0 ¢/kWh |
Table 3 shows the prices for customers on the Ultra Low Overnight (ULO) price plan and 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. |
7.6 ¢/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. |
28.4 ¢/kWh |
Power is Personal
Residential, small business and farm customers can choose their price plan, either TOU, Tiered or ULO prices. The OEB has an online bill calculator to help customers who are considering a switch in price plans. For more information, see oeb.ca/choice.
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