Semi-annual pricing adjustments by the Ontario Energy Board (OEB) have resulted in an increase in electricity costs for all residential and small business customers. This change came into effect on November 1, 2011.
The Regulated Price Plan (RPP) prices , reflected on the “Electricity” line of customer bills, were increased by OEB. Most residential and small business customers have a smart metre and are billed on the OEB RPP Time of Use (TOU) prices for electricity. Fun Fact: Now if you see OEB RPP TOU mentioned anywhere, would you know what it means?
The changes in the Time Of Use (TOU) prices are
from 5.9 to 6.2 cents per kWh for off-peak consumption,
from 8.9 to 9.2 cents per kWh for mid-peak consumption,
from 10.7 to 10.8 cents per kWh for on-peak consumption.
Changes in the two-tiered pricing are from 6.8 to 7.1 cents up to the tier threshold and from 7.9 cents to 8.3 cents on consumption above the threshold. Effective November 1st the threshold changes from 600 kWh to 1,000 kWhs for residential customers and is unchanged at 750 kWhs for non-residential Regulated Price Plan (RPP) customers. For complete rate information please refer to your local utilities website.
Electrically heated homes have been typically suffered a pricing stigma in comparison to Forced Air Gas (FAG) heating. This increase won’t help.
Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™