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As a residential customer, you can choose to switch between Time-of-Use (TOU), Ultra-Low Overnight (ULO) and Tiered prices for your electricity.
With TOU and ULO, the price you pay depends on when you use electricity. With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once that limit is exceeded, a higher price applies.
With TOU prices, the price depends on when you use electricity. You can help manage your electricity costs by shifting your usage to lower price periods when possible.
There are three TOU periods:
People use electricity differently depending on the season, so the TOU price periods are different in the winter than they are in the summer.
With ULO prices, the price depends on when you use electricity. You can help manage your electricity costs by shifting your usage to lower price periods when possible.
There are four price periods:
With ULO, the price periods remain the same all year round.
With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once that limit (called a threshold) is exceeded, a higher price applies. For residential customers, the threshold normally changes with the season to reflect changing usage patterns – for example, there are fewer hours of daylight in the winter and some customers use electric heating.
In the winter period (November 1 – April 30), the Tier threshold for residential customers is 1,000 kWh so that households can use more power at the lower price. In the summer period (May 1 – October 31), the Tier threshold for residential customers is 600 kWh.
For small business customers, the Tier threshold is 750 kWh all year round.
Tiered prices give you the flexibility to use electricity at any time of day at the same price, although that price will change if you exceed the threshold during the month.
The Ontario Energy Board (OEB) announced electricity rates effective November 1, 2023 to April 30, 2024 for residential and small business customers on TOU, Tiered and ULO pricing under the Regulated Price Plan (RPP). On May 1, 2024, summer Time-of-Use (TOU) hours and the change in the Tiered threshold for residential customers under the OEB’s Regulated Price Plan (RPP) will take effect and remain in place until October 31, 2024. Electricity prices for both price plans and the Ultra-Low Overnight (ULO) price plan remain unchanged.
To view historical electricity rates, click here.