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Residential & Small Business Electricity Rates
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If you’re a residential or small business customer that pays Time-of-Use (TOU) electricity prices, you can choose to switch to Tiered or ULO prices.
To learn more about your pricing options, visit www.oeb.ca/choice and the Ontario Energy Board's Online Comparison Calculator.
You can change your electricity price plan quickly and easily in the NT Power MyAccount Portal! Login to your NT Power My Account and select "Choose Your Electricity Price Plan" from the menu.
If you have not signed up for the MyAccount portal, please complete and return an election form or contact us to request a change to your price plan. (Note: Some browsers do not support fillable fields in PDF forms. If you are unable to enter information in the fields after clicking the link, please download and open with your preferred PDF program.)
**If you want to continue with your current price plan, no action is required.
TOU Pricing for November 1, 2023- April 30, 2024
The Time-of-Use (TOU) price plan contains 3 price periods:
- Off-peak, when demand for electricity is generally lower.
- Mid-peak, when demand for electricity is moderate.
- On-peak, when demand for electricity is generally higher.
TOU price periods are different in the summer (May 1 – October 31) than they are in the winter (November 1 – April 30). On weekends and holidays the cheapest rates are in effect all day regardless of the season.
| Winter TOU Price Periods | Nov 1, 2023 - April 30,2024, TOU Prices |
|---|---|
Off-Peak (Weekdays 7 p.m. – 7 a.m., all day weekends and holidays) | 8.7 ¢/kWh |
Mid-Peak (Weekdays 11 a.m. – 5 p.m.) | 12.2 ¢/kWh |
On-Peak (Weekdays 7 a.m. – 11 a.m. and 5 p.m. – 7 p.m.) | 18.2 ¢/kWh |
Tiered Pricing for November 1, 2023- April 30, 2024
With Tiered prices, you can use a certain amount of electricity each month at a lower price. Once that limit (called a threshold) is exceeded, a higher price applies. The threshold changes with the season to reflect changing usage patterns – for example, there are fewer hours of daylight in the winter and some customers use electric heating.
In the winter period (November 1 – April 30), the Tier threshold for residential customers is 1,000 kWh, so that during the heating season households can use more power at the lower price. In the summer period (May 1 – October 31), the Tier threshold for residential customers is 600 kWh. The Tier threshold for small business customers is 750 kWh all year round.
| Winter Tier Thresholds | November 1, 2023 - April 30, 2024, Tiered Prices | |
|---|---|---|
| Tier 1 |
Residential – first 1000 kWh/month Non-residential – first 750 kWh/month |
10.3 ¢/kWh |
| Tier 2 |
Residential – for electricity used above 1000 kWh/month Non-residential – for electricity used above 750 kWh/month |
12.5 ¢/kWh |
Ultra-Low Overnight Price Plan Rates
The Ultra-Low Overnight (ULO) price plan consists of 4 price periods:
- Ultra-Low Overnight, when demand for electricity is lowest on average.
- Weekend Off-peak, when demand for electricity is generally lower.
- Mid-peak, when demand for electricity is moderate.
- On-peak, when demand for electricity is highest on average.
The ULO price periods are the same in the summer as they are in the winter. On weekends and holidays the cheapest rates are in effect all day.
| ULO Price Periods | All Year | ULO Prices (¢/kWh) |
|---|---|---|
| Ultra-Low Overnight | Every day 11 p.m. - 7 a.m. | 2.8 |
| Weekend Off-Peak | Weekends and holidays 7 a.m. – 11 p.m. | 8.7 |
| Mid-Peak | Weekdays 7 a.m. – 4 p.m. and 9 p.m. to 11 p.m. | 12.2 |
| On-Peak | Weekdays 4 p.m. – 9 p.m. | 28.6 |
Electricity Rate and Regulated Price Plan: Frequently Asked Questions
How are TOU, Tiered, and ULO prices set?
The OEB sets TOU, Tiered and ULO prices based on a forecast of how much it will cost to supply customers with the electricity they are expected to use over the next 12 months.
These prices are set under the Regulated Price Plan (RPP) which is designed to provide stable pricing, encourage conservation, and ensure that the price customers pay for electricity better reflects the price paid to generators that produce the electricity that customers use in their homes or small businesses.
Electricity utilities are not allowed to make a profit from the sale of electricity.
The OEB typically sets new TOU and Tiered prices for May and November, based on an estimate of how much it will cost to supply residential and small business customers on the Regulated Price Plan with the electricity that they are expected to use.
Will I save money by opting out of TOU prices?
There is no guarantee you will save money if you switch from TOU to a Tiered or ULO price plan. The total bill impact of switching will vary depending on how much electricity you consume in a month and when it is consumed during the day.
Considering a switch to Tiered or ULO prices? For more information, go to www.oeb.ca/choice.
What do I need to do to switch to Tiered or ULO prices?
If you would like to switch to a Tiered or ULO price plan, here is the process:
You can change your electricity price plan quickly and easily in the NT Power MyAccount Portal! Simply select "Choose Your Electricity Price Plan" from the menu, select the price plan you would like, and then click the button labeled "Switch Price Plan Now".
If you have not signed up for the MyAccount portal, please complete and return an election form or contact us to request a change to your price plan. (Note: Some browsers do not support fillable fields in PDF forms. If you are unable to enter information in the fields after clicking the link, please download and open with your preferred PDF program.)
- Within 10 days of receiving your completed form an NT Power representative will contact you and if there are no issues with your election form, you will be informed of when you can expect to start being billed on Tiered prices.
- A change in your price plan can only take effect at the start of a billing period. A billing period is generally about 30 days long, and the start and end dates are identified on your electricity bill. Many customers are not billed based on a calendar month, and the start of your billing period can be any given day of a month.
If I have opted into Tiered or ULO prices, can I switch back to TOU or another price plan?
Yes!
You can change your electricity price plan quickly and easily in the NT Power MyAccount Portal! Simply select "Choose Your Electricity Price Plan" from the menu, select the price plan you would like, and then click the button labeled "Switch Price Plan Now".
If you have not signed up for the MyAccount portal, please complete and return an election form or contact us to request a change to your price plan. (Note: Some browsers do not support fillable fields in PDF forms. If you are unable to enter information in the fields after clicking the link, please download and open with your preferred PDF program.)
- Within 10 days of receiving your completed form an NT Power representative will contact you and if there are no issues with your election form, you will be informed of when you can expect to start being billed on Tiered prices.
- A change in your price plan can only take effect at the start of a billing period. A billing period is generally about 30 days long, and the start and end dates are identified on your electricity bill. Many customers are not billed based on a calendar month, and the start of your billing period can be any given day of a month.
Can all residential and small business customers opt to change their price plan?
Any residential or small business customer may opt to change their price plan with the exception of customers who are currently paying Tiered prices because the meter at their site is not yet equipped to bill TOU or ULO prices.
If you live in a condo or apartment that has its own individual meter and your bill comes from a company other than your electricity utility, you are a customer of a unit sub-meter provider (USMP). Customers of USMPs also can’t switch to Tiered or ULO prices. That decision can only be made for the building as a whole by the master consumer, who is the person that retained a USMP for the property. In most cases, the master consumer is the property manager, landlord or condominium board.
I receive a monthly credit from the Ontario Electricity Support Program (OESP). Will I lose that credit if I switch my Regulated Price Plan?
No, you will still receive the credit.
I receive the Ontario Electricity Rebate. Will I lose that rebate if I switch my Regulated Price Plan?
No, you will still receive the credit.
Breakdown of Charges
| Breakdown of Charges | Newmarket-Tay | Midland | ||
| Delivery Charges | Service Charge | per month | $31.0100 | $34.3000 |
| Smart Metering Entity Charge - effective until December 31, 2027 | per month | $0.4200 | $0.4200 | |
| Low Voltage Service Rate | per kWh | N/A | $0.0020 | |
| Rate Rider for Application of Tax Change (2023) - effective until April 30, 2024 | per month | -$0.0600 | N/A | |
| Rate Rider for Disposition of Capacity Based Recovery Account (2023) - effective until April 30, 2024 - Applicable only for Class B Customers | per kWh | -$0.0002 | -$0.0001 | |
| Rate Rider for Disposition of Deferral/Variance Accounts (2023) - effective until April 30, 2024 | per kWh | $0.0021 | $0.0058 | |
| Rate Rider for Disposition of Global Adjustment Account (2023) - effective until April 30, 2024 - Applicable only for Non-RPP Customers | per kWh | N/A | -$0.0033 | |
| Rate Rider for Recovery of Incremental Capital - effective until the effective date of the next cost of service-based rate order | per month | $0.9200 | N/A | |
| Retail Transmission Rate - Line and Transformation Connection Service Rate | per kWh | $0.0083 | $0.0069 | |
| Retail Transmission Rate - Network Service Rate | per kWh | $0.0107 | $0.0092 | |
| Regulatory Charges | Wholesale Market Service Rate | per kWh | $0.0041 | $0.0041 |
| Capacity Based Recovery (CBR) - Applicable for Class B Customers | per kWh | $0.0004 | $0.0004 | |
| Rural or Remote Electricity Rate Protection Charge (RRRP) | per kWh | $0.0007 | $0.0007 | |
| Standard Supply Service - Administrative Charge (if applicable) | per month | $0.2500 | $0.2500 | |
| HST | HST on Electric | % | 13.00% | 13.00% |
| OER | Provincial Rebate (OER or OREC) | % | -19.3% | -19.3% |