The Ontario government has announced that it is extending the hydro relief until October 31, but prices are increasing by 3 cents. The government suspended time-of-use electricity rates, holding electricity prices to the off-peak rate of 10.1 cents-per-kilowatt-hour on May 24.
The Government of Ontario is introducing a new fixed electricity price of 12.8 ¢/kWh called the COVID-19 Recovery Rate for customers that are on time-of-use (TOU) prices.
Starting June 1, that price will apply to electricity used at all hours of the day, 7 days a week.
Time-of-use prices as of November, 2019 ― Off-Peak: 10.1₵/kWh, Mid-Peak: 14.4₵/kWh, On-Peak: 20.8₵/kWh
The COVID-19 Recovery Rate
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.
Cost: 12.8 cents per kWh, which will be automatically applied to all time-of-use customers 24 hours a day, 7 days a week.
Duration: Fixed electricity price will be in place from June 1 – October 31, 2020.