Ontario Provides Consumers with Greater Stability and Predictability with Their Electricity Bills
As Ontarians continue to work and learn from home, the OEB are extending the suspension of time-of-use price to provide consumers with greater stability and predictability with their electricity bills.
To extend this support responsibly, the OEB will introduce a fixed electricity price, known as the COVID-19 Recovery Rate, of 12.8 cents per kWh, which will be automatically applied to all time-of-use customers 24 hours a day, 7 days a week. This fixed electricity price will be in place from June 1 – October 31, 2020.
The COVID-19 Recovery Rate of 12.8¢/kWh is based on the average cost of electricity, set by the Ontario Energy Board. This fixed rate will continue to suspend time-of-use prices in a fiscally responsible manner. By introducing this new fixed rate, consumers will have greater flexibility to use electricity when they need it without paying on-peak and mid-peak prices.
Learn more at: https://news.ontario.ca/mndmf/en/2020/05/ontario-provides-consumers-with-greater-stability-and-predictability-with-their-electricity-bills.html?utm_source=ondemand&utm_medium=email&utm_campaign=m&fbclid=IwAR2HAjsBSsEj2mEfAGwIDKP9RgRsebksoQnt-5RX0Yr6Sm8KYrGOIGX4t1g