The Global Adjustment also covers the costs of some conservation programs.Īll electricity consumers have to pay a share of the Global Adjustment. The Global Adjustment is the difference between that guaranteed price and the money the generators earn in the wholesale marketplace. Most electricity generating companies get a guaranteed price for the electricity that they produce. The Ontario Energy Board does not regulate this. Read more about choosing your electricity price plan.įor customers that have signed up for a contract with an energy retailer, the price is set out in the contract. By November 1, 2023, all utilities must offer ULO to their customers. Check with your utility to see if they offer ULO now. If you’re a residential or small business customer, you can choose to switch between Time-of-Use (TOU) and Tiered prices. Beginning May 1, 2023, electricity utilities that are ready can offer the Ultra-Low Overnight (ULO) price plan. With Tiered, the price depends on how much electricity you use overall in a month. This means you can help manage your electricity costs by shifting your usage to lower price periods when possible. With TOU and ULO, the price depends on when you use electricity. The Ontario Energy Board sets rates once a year on November 1. ![]() This is the cost of the electricity that you used during the billing period. For residential and small business customers that buy electricity from their utility, there are three different types of rates. Your bill includes a line item called Electricity. ![]() The other bill is for households that have signed an energy contract. One is for households and small businesses on Time-of-Use rates. The bill includes the costs for the electricity that you use, the services your local utility provides and some other costs as outlined below.īelow are two sample electricity bills. Your electricity utility delivers electricity to your home or business and issues your bill. The more you know about electricity rates, the easier it will be to make informed decisions about your energy usage or whether an electricity contract with an energy retailer is right for you. ![]() We want you to understand the charges on your electricity bill.
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