Electricity rates are about to change across Ontario

Electricity rates are about to change for users across Ontario.

On November 1, households and small businesses will see their electricity rates go down under the Ontario Energy Board's (OEB) Regulated Price Plan.

Customer's on the OEB's tiered pricing plan will also see their bills lowered on November 1, as winter time-of-use hours and the seasonal change in the killowatt-hour threshold take effect.

Off-peak time-of-use hours will run from 7 p.m. to 7 a.m. during weekdays, and all day on weekends and holidays. On-peak hours will be from 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m. on weekdays, and mid-peak hours from 11 a.m. to 5 p.m. on weekdays.

The winter-tier threshold provides residential customers with an extra 400 kilowatt-hours per month at a lower price during the colder weather.

Chart via Ontario Energy Board.

The Ontario Electricity Rebate - a pre-tax credit that shows up at the bottom of electricity bills - will also see changes on November 1. Starting next month, the rebate will drop from 17 per cent to 11.7 per cent.

Chart via Ontario Energy Board.

For a typical residential customer, the credit will decrease electricity bills by about $13.91 per month, according to the OEB.

Under the board's winter disconnection ban, electricity providers can't turn off a residential customer's power between November 15, 2022 and April 30, 2023 for failing to pay.