OEB Sets Electricity Rates for Nov. 1, 2022

OEB Sets Electricity Rates for Nov. 1, 2022

Toronto, Ontario – The Ontario Energy Board (OEB) announced on Friday that they will be lowering electricity rates for households and small businesses as of November 1, 2022 under Ontario’s Regulated Price Plan (RPP).

Time-of-Use (TOU) Electricity Rates

Winter TOU Periods New TOU Prices
(Effective Nov. 1, 2022)
Weekdays – 7 p.m. – 7 a.m., all day weekends and holidays
7.4¢/kWh ↓ 9.8%
Weekdays – 11 a.m. – 5 p.m.
10.2¢/kWh ↓ 9.7%
Weekdays – 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.
15.1¢/kWh ↓ 11.2%

Tiered Electricity Rates

Winter Tiered Periods New Tiered Prices
(Effective Nov. 1, 2022)
Tier 1
Residential – first 1,000 kWh/month
Non-residential – first 750 kWh/month
8.7¢/kWh ↓ 11.2%
Tier 2
Residential – for electricity used above 1,000 kWh/month
Non-residential – for electricity used above 750 kWh/month
10.3¢/kWh ↓ 10.4%

Ontario Energy Rebate (OER) Changes

The Government of Ontario’s Ontario Electricity Rebate (OER) will also be changing effective November 1, 2022. The pre-tax credit will be lowered to 11.7%.

Changes to pricing will come into effect on November 1, 2022 along with winter Time-of-Use (TOU) hours and Tiered pricing thresholds.

Read the Ontario Energy Board announcement here.

Your Power, Your Choice

As a residential or small business customer in Ontario, you have the ability to choose between TOU or Tiered electricity pricing. Use the Rate Comparison Tool available through MyOshawaPower or visit oeb.ca/choice to use the OEB’s calculator and find out which plan works best for your lifestyle.

Looking For Help With Your Bill?

Oshawa Power has programs designed to make your electricity bills more manageable. Find out more about Financial Assistance programs and eligibility.