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Time-of-use Tiered Pricing Rates - May 1, 2016

Posted On: Monday, April 18, 2016

These new rates are effective from electricity usage from 1st May onwards

These new rates are effective from electricity usage from 1st May onwards. For customers on TOU pricing, the increase is approximately 2.5% on the total bill per month, or $3.13 per month based on an average consumption of 750 kWh.

 

The table below summarises the rate price changes that are applicable for TOU/RPP customers (Residential and General Service<50kW). 

         

Time-of-Use Pricing:

     

Category

Time(s)

New Summer Price

Change

Change

Off-peak

Weekdays 7pm-7am

All day weekends and holidays

8.7 ¢/kWh

5

0.4 cents

Mid-peak

Weekdays 7am to 11am and

Weekdays 5pm to 7pm

13.2 ¢/kWh

5

0.4 cents

On-peak

Weekdays 11am to 5-7pm

18.0 ¢/kWh

5

0.5 cents

The ratio between on and off-peak prices is more than 2:1 meaning that the off-peak price is less than half the cost of the on-peak. This means customers who shift use to evenings and weekends will see a reward for doing so.

 

 

Tiered-Pricing:

     

Category

Time(s)

New Summer Price

Change

Change

1st Tier

Up to 600 kWh/month

10.3 ¢/kWh

5

0.4 cents

2nd Tier

Everything over 600 kWh/month

12.1 ¢/kWh

5

0.5 cents

           

* The threshold for small business stays at 750 kWh per month all year

 

Reasons for Change:

Ontarians consumed less electricity than expected over the recent milder winter. As a result of lower usage, Regulated Price Plan (RPP) prices did not recover the full cost of serving RPP customers. One of the main reasons prices are increasing in May is to recover this shortfall.

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