Thursday, October 17, 2013
by: SooToday.com Staff
ONTARIO ENERGY BOARD
New electricity prices for households and small business consumers
TORONTO – Today the Ontario Energy Board announced new electricity prices. The new prices will apply to most households and small businesses starting November 1. This chart outlines time-of-use prices as of November 1, 2013:
- Off-peak – Weekdays 7 p.m. – 7 a.m. – All day weekends and holidays – 7.2 ¢/kWh (up 0.5 cents)
- Mid-peak – Weekdays 11 a.m. – 5 p.m. – 10.9 ¢/kWh (up 0.5 cents)
- On-Peak – Weekdays 7-11 a.m. and 5-7 p.m. – 12.9 ¢/kWh (up 0.5 cents)
The price change for consumers is an increase of approximately $4 on the “Electricity” line, or about 3 percent on the total monthly bill, for a household with a typical consumption pattern that uses 800 kWh per month. The Ontario Energy Board reviews electricity prices twice each year based on updated cost estimates. Estimates for the coming year include more generation from sources including renewables along with a higher market price for natural gas. Another significant factor in this price change accounts for the variation between previous estimates and actual costs.
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 percent) during off-peak hours.
These price changes do not affect the small number of consumers who have contracts with a company that sells electricity under contract.
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.