Ontario Energy Board sets new electricity prices for households and small businesses as of May 1, 2021

Posted On Thursday April 22, 2021

Today the Ontario Energy Board (OEB) announced new, lower electricity prices for households and small businesses, effective May 1, 2021, under the Regulated Price Plan (RPP).

The summer Time-of-Use (TOU) hours, and the summer Tier threshold for residential customers, will also come into effect May 1, 2021.

Typical residential customer bills to be held stable

The Government is also decreasing the Ontario Electricity Rebate (OER) from 21.2% to 18.9%, effective May 1, 2021. The Government's intention is that, for residential and small business customers, the reduction in the electricity price will be offset by the change in the OER. The OER is a total pre-tax credit that appears at the bottom of electricity bills. As a result of lower RPP prices and the reduced OER, typical residential customer bills will be held stable. The typical residential RPP custoer uses 700 kWh or electricity per month.

New RPP prices starting May 1, 2021

The new RPP TOU and Tiered prices are set by the OEB for May 1, 2021. Follow this link to see new RPP TOU and Tier prices and the hours during which those prices apply:

https://www.oeb.ca/newsroom/2021/ontario-energy-board-sets-new-electricity-prices-households-and-small-businesses