Ontario Energy Board sets new electricity prices for households and small businesses
December 17, 2020
The Ontario Energy Board (OEB) announced new electricity prices for households and small businesses, effective January 1, 2021, under the Regulated Price Plan (RPP). The OEB last set RPP prices for November 1, 2020.
The Typical residential customer bills to be held stable. The Government is also decreasing the Ontario Electricity Rebate (OER) from 33.2% to 21.2% effective January 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 700kWh of electricity per month.