THUNDER BAY – The Ontario Energy Board (OEB) has announced new electricity rates for Ontario, which will take effect on November 1, 2024.
The changes apply to customers under the Regulated Price Plan (RPP), including most households, small businesses, and farms across the province.
The updated rates include adjustments to Time-of-Use (TOU), Ultra-Low Overnight (ULO), and tiered pricing plans for residential and small business customers. Winter TOU hours and a revised usage threshold for residential customers on the Tiered pricing plan will also come into effect.
Additionally, the Ontario Electricity Rebate (OER), provided by the Ontario government, will be adjusted to 13.1 per cent, reducing the electricity bill subtotal for eligible residential, small business, and farm customers.
Customers have the option to select their pricing plan based on their usage patterns.
The TOU and ULO plans offer varying rates depending on the time electricity is used, while the tiered plan bases costs on monthly electricity consumption levels. Customers who are satisfied with their current plan do not need to take any action and will remain on their existing choice.
To explore or switch plans, customers can visit the rate estimator section in their Synergy North MyEnergy portal.
