TORONTO, Oct. 17, 2013 /CNW/ - 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:
| Category | Time(s) | Price | Change |
| Off-peak | Weekdays 7pm-7am All day weekends and holidays |
7.2 ¢/kWh | (up 0.5 cents) |
| Mid-peak | Weekdays 11am-5pm | 10.9 ¢/kWh | (up 0.5 cents) |
| On-Peak | Weekdays 7-11am and 5-7pm |
12.9 ¢/kWh | (up 0.5 cents) |
The price change for consumers is an increase of approximately $4.00 on the "Electricity" line, or about 3% 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.
Quick facts
- 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%) 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.
Contact us
For more information, please refer to the attached backgrounder, visit the OEB website at www.ontarioenergyboard.ca or contact us directly.
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With links to
Graphic of Time-of-Use Price chart:
http://www.ontarioenergyboard.ca/OEB/_Documents/For+Consumers/TOU_prices_Winter.pdf
Electricity Prices Explained video:
http://youtu.be/zVdm5BI4gU8
Time-of-use video
http://www.youtube.com/watch?feature=player_embedded&v=bJ04SSArI6c
PDF available at: http://stream1.newswire.ca/media/2013/10/17/20131017_C4853_DOC_EN_32198.pdf
SOURCE: Ontario Energy Board
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1-877-632-272
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