TORONTO — The cost of using electricity in Ontario homes and small businesses will dip slightly as of November 1.
The Ontario Energy Board on Friday announced lower rates for Time of Use pricing and for customers on the Tiered Price Plan.
But it also announced a decrease in the Ontario Energy Rebate.
TOU rates will be 7.4¢ / kWh for off-peak 7 pm to 7 am weekdays, all day weekends and holidays (down from 8.2¢), 10.2¢ / kWh for mid-peak 11 am to 5 pm weekdays (down from 11.3¢) and 15.1¢ / kWh for on-peak 7 am to 11 am and 5 pm to 7 pm weekdays (down from 17¢ / kWh).
For customers on the tiered plan, on Nov. 1 the price falls to 8.7¢ / kWh for the first 1000 kWh/month for residential customers, and for the first 750 kWh/month for non-residential customers (down from 9.8¢).
The rate will be 10.3¢ / kWh for consumption over 1,000 kWh/month for residential customers, and for consumption over 750 kWh/month (down from 11.5¢).
The seasonal change to the winter threshold for residential customers provides for an additional 400 kWh/month at the reduced rates.
Also effective the beginning of next month, the provincial government's Ontario Electricity Rebate will be changed to 11.7 per cent.
It's currently 17.0 per cent.
The OER is a pre-tax credit that appears at the bottom of electricity bills.
For a typical residential customer, the energy board says the new credit will reduce bills by about $13.91 each month.
