Changes to electricity prices
The Ontario Energy Board (OEB) has announced some upcoming changes to electricity prices for households, small businesses, and farms under the Regulated Price Plan (RPP), starting on November 1, 2024. This includes the switch to winter Time-of-Use (TOU) hours and an update to the Tiered pricing threshold for residential and small business customers.
The Ontario government’s Ontario Electricity Rebate (OER) will also change to 13.1% on November 1, providing a rebate on the electricity bill subtotal. For a typical residential customer using 700 kWh of electricity each month, the OER will reduce bills by about $17 per month.
Time-of-Use Hours
Table 1 shows the Time-of-Use (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 (¢/kWh) |
| Off-Peak Weekdays 7 p.m. – 7 a.m. Weekends and holidays all day |
7.6 |
| Mid-Peak Weekdays 11 a.m. – 5 p.m. |
12.2 |
| On-Peak Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m. |
15.8 |
Tiered Thresholds
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:
Tiers |
Winter Tier Thresholds |
November 1, 2024 Tiered Prices (¢/kWh) |
| Tier 1 |
Residential – first 1,000 kWh/month Non-residential – first 750 kWh/month |
9.3 |
| Tier 2 | Residential – for electricity used above 1,000 kWh/month Non-residential – for electricity used above 750 kWh/month |
11.0 |
Ultra-Low Overnight Price Periods
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, 2024 ULO Prices (¢/kWh) |
| ULO Ultra-Low Overnight Every day 11 p.m. – 7 a.m. |
2.8 |
| ULO Weekend Off-Peak Weekends and holidays 7 a.m. – 11 p.m. |
7.6 |
| ULO Mid-Peak Weekdays 7 a.m. – 4 p.m. and 9 p.m. – 11 p.m. |
12.2 |
| ULO On-Peak Weekdays 4 p.m. – 9 p.m. |
28.4 |
Power is personal
Residential and small business customers can choose to switch between Time-of-Use, Ultra-Low Overnight and Tiered prices. Whatever plan you choose, one thing remains certain: the less electricity you use, the less you pay. Switching price plans will not affect your eligibility for the Ontario Electricity Rebate or other government programs like the Ontario Electricity Support Program.
Considering a switch? Learn more about price plans
If you’re happy with your current plan, you don’t need to take any action - you will stay on it automatically. If you’d like to switch, simply submit a request to change your plan.
Price plan options
- Time-of-Use (TOU) prices: The price varies based on when you use electricity, with three distinct periods:
- Peak: Highest rate during times of high demand.
- Mid-peak: Moderate rate during transitional hours.
- Off-peak: Lowest rate, typically in evenings and weekends.
- Tiered prices: With Tiered pricing, you pay one rate up to a set monthly limit. If you exceed this threshold, a higher rate applies, regardless of time of day or week.
- Ultra-Low Overnight (ULO) prices: ULO pricing offers the lowest rates overnight, encouraging the use of high-energy activities, such as electric vehicle charging, during these off-peak hours. This plan may be ideal for those with higher electricity use at night.
For more information on choosing a plan, visit OEB.ca/Choice.
You might qualify for the Ontario Electricity Support Program
You could get a monthly, on-bill credit of $35 or more. The Government of Ontario has changed the eligibility for the Ontario Electricity Support Program (OESP) program. So now, more Ontarians qualify. The credit amount depends on how many people live in the home and the combined annual household after tax income.
Beware of energy scams: Home energy assessments, audits, inspections and home visits are not required to apply for the OESP.