Since January 1, 2021, residential and small business consumers have paid a fixed price for electricity of 8.5 ¢/kWh regardless of the time of day or total consumption, to support Ontarians at home during the COVID-19 pandemic.
Effective February 23, 2021, residential and small business consumers will resume paying TOU prices that were set by the Ontario Energy Board (OEB) on December 15, 2020.
The winter price schedule incorporates both a morning and evening peak which reflects increased lighting needs during the shorter days. By contrast, the summer peaks of electricity take place throughout the afternoon when air conditioning use is at its highest. Off-peak periods account for roughly 50 per cent of the week and are applicable on holidays.
Residential and small business customers that pay TOU electricity prices can choose to switch to tiered pricing. With tiered prices, customers pay a set rate for electricity up to a certain level of consumption. The rate increases for all additional electricity used when consumption by these customers exceeds that threshold. Learn more about tiered pricing.