Ontario Energy Board has said that the winter times rates of November 2019 will continue even after the initial rate reduction program ends on May 7.
Time-of-use prices as of November, 2019 ― Off-Peak: 10.1₵/kWh, Mid-Peak: 14.4₵/kWh, On-Peak: 20.8₵/kWh
According to the press release, “The ongoing COVID-19 emergency has resulted in extraordinary uncertainty around various aspects of the supply cost and electricity demand estimates that underpin RPP prices. This uncertainty casts significant doubt on the reliability of forecasting supply costs or RPP customer demand.”
“The OEB has therefore decided to leave RPP prices at the levels at which they were set on November 1, 2019. For customers on time-of-use (TOU) pricing, this means that the RPP prices as set by the OEB for November 1, 2019, will apply once the emergency TOU pricing implemented by the government ceases to have effect.”
“By keeping the winter tier threshold (1,000 kWh) in place, customers that are on tiered pricing have an additional 400kWh/month available at the lower price.”
Ontario Energy Board also stated that in future electricity rates will increase and said, “The decision to keep the winter price structures in place has the potential to create a shortfall in the recovery of the cost of electricity supplied to RPP customers. Any such shortfall will eventually need to be recovered from RPP customers through RPP prices in the future.”