Toronto: The Ontario Energy Board announced new time-of-use (TOU) electricity prices April 14, for households and small businesses starting May 1.
The price is increasing by approximately $3.13 per month on the "Electricity" line, and about 2.5% on the total bill, for a household that consumes 750 kWh per month.
Ontarians consumed less electricity than expected over the recent milder winter, the OEB says. As a result of lower usage, Regulated Price Plan (RPP) prices did not recover the full cost of serving RPP customers. One of the main reasons prices are increasing in May is to recover the shortfall.
New summer TOU hours will also take effect May 1. The following table outlines TOU prices and the times they are effective as of May 1, 2016:
| Category | Time(s) – Summer (May 1-Oct 31) | Price/kWh | Change |
| Off-peak | Weekdays 7p.m.-7a.m. All day weekends and holidays | 8.7¢/kWh | 0.4¢ |
| Mid-peak | Weekdays 7-11a.m. and 5-7p.m. | 13.2¢/kWh | 0.4¢ |
| On-Peak | Weekdays 11a.m.-5p.m. | 18.0¢/kWh | 0.5¢ |
The ratio between on and off-peak prices is more than 2:1 meaning that the off-peak price is less than half the cost of the on-peak. This means customers who shift use to evenings and weekends will see a reward for doing so.