You may also choose to buy your electricity from an electricity retailer. Not all retail contracts are the same, most offer a fixed price over a period of time. Before you sign a contract, read it carefully so you are aware of all terms and conditions.
Remember, the contract you sign only covers the electricity cost. Delivery charges, global adjustment charges, regulatory charges, the debt retirement charge (if applicable), and other charges will still apply and customers will see these line items on their bill.
Ontario Electricity Rebate
The Government of Ontario introduced the Ontario Electricity rebate in 2019. It’s shown at the bottom of bills as a pre-tax credit. The government has reduced the amount of the rebate to 18.9% (from 21.2%), effective May 1, 2021. The lower rebate will offset the reduction in TOU and Tiered electricity prices. It is expected typical residential and small business bills will be held stable.
Residential, seasonal, and small business customers are automatically eligible for the rebate, as well as any customer who is using less than 250,000 kWh a year. Registered farming businesses and licensed long-term care homes (as long as they don't share an account with a hospital) are also eligible to receive the rebate.
The rebate is calculated on the base amount of the bill prior to applying HST. The base amount includes the Electricity charge, Delivery charge, and Regulatory Charges. It excludes any other charges that may appear on bills such as late payment charges or disconnection charges. If your first bill issued after May 1, 2021, includes any usage in March and April, the rebate will be pro-rated based on the number of days in March and April at 21.2% and the number of days on and after May 1 at 18.9%.
Weighted Average Hourly Spot Price (WAHSP)
A small number of our customers are assessed under the Weighted Average Hourly Spot Price (WAHSP). For customers who do not have an interval meter installed and who have not signed a contract with an energy retailer, or are not eligible for the Regulated Price Plan, they will be supplied under the Standard Supply Service and will be charged a price based on the current market rates weighted over the billing period, using our specific net system load shape (based on adjusted kWh).
Hourly Ontario Energy Price (HOEP)
The Hourly Ontario Energy Price (HOEP) is assessed for customers with an interval meter installed who have not signed a contract with an energy retailer. Their electricity is supplied under the Standard Supply Service and they will be charged a price based on the actual hourly market rate within their billing period (based on adjusted kWh).
Global Adjustment is collected on behalf of the Independent Electricity System Operator (IESO) and covers the cost for providing both adequate generating capacity and conservation programs for Ontario.
To learn more about Global Adjustment components and costs, visit the IESO’s website.