Ontario Energy Board announces changes to electricity prices on Friday

The changes apply to customers under the regulated price plan, which includes most households, small businesses and farms in the province.

THUNDER BAY – The Ontario Energy Board (OEB) has announced new electricity rates for Ontario, effective November 1, 2024.

The changes apply to customers under the Regulated Price Plan (RPP), which includes most households, small businesses and farms in the province.

The updated rates include adjustments to Time-of-Use (TOU), Ultra-Low Overnight (ULO) and tiered rate plans for residential and small business customers. Winter TOU hours and a revised usage threshold for residential customers on the tiered rate plan will also come into effect.

In addition, the Ontario Electricity Rebate (OER) provided by the Ontario government will be adjusted to 13.1 percent, reducing the electric bill subtotal for eligible residential, small business and agricultural customers.

Customers have the option to select their rate plan based on their usage patterns.

The TOU and ULO plans offer different rates depending on when electricity is used, while the tiered plan bases costs on monthly electricity consumption. Customers who are satisfied with their current subscription do not need to take any action and will stick with their existing choice.

To explore or change plans, customers can visit the rate estimates section in their Synergy North MyEnergy portal.