Today the Ontario Energy Board (OEB) announced new, lower electricity prices for households and small businesses, effective May 1, 2021, under the Regulated Price Plan (RPP). The summer Time-of-Use (TOU) hours, and the summer Tier threshold for residential customers, will also come into effect May 1, 2021.
Typical residential customer bills to be held stable
The Government is also decreasing the Ontario Electricity Rebate (OER) from 21.2% to 18.9% effective May 1, 2021. The Government s intention is that, for residential and small business customers, the reduction in the electricity price will be offset by the change in the OER. The OER is a total pre-tax credit that appears at the bottom of electricity bills. As a result of lower RPP prices and the reduced OER, typical residential customer bills will be held stable. The typical residential RPP customer uses 700 kWh of electricity per month.
Property tax and energy cost rebates
Businesses that are, or were, required to shut down or significantly restrict services due to provincial public health measures can apply for rebates, provided in the form of grants, to help with their fixed costs.
Businesses struggling to pay their energy bills as a result of COVID-19 may also be eligible for the COVID-19 Energy Assistance Program for Small Business (
CEAP-SB), which you can apply to through your utility provider.
Eligible businesses could get rebates for, municipal and education property taxes, energy costs, including electricity and natural gas (or where natural gas is not available, propane and heating oil). Funding will cover the entire length of time that regionally targeted public health restrictions are in place.