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Electricity Prices for Toronto Residential Customers
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Disclaimer: We have prices on a best efforts basis and are not responsible for discrepancies.
The above prices DO NOT include the Global Adjustment
Changes When You Sign a Contract
When you sign a contract, you leave the Regulated Price Plan (RPP). There are two changes to your bill:
Regulated Price Plan (RPP) Prices
Residential customers not in fixed price contracts are on the Regulated Price Plan (RPP):
Most Ontario homes now have a Smart Meter and pay these rates:
TOU Prices - Winter-November 1 to April 30, 2017:
If you do not have a Smart Meter:
These prices are set for 6 month periods, May 1st and November 1st, but if the utility has to pay more or less for electricity, the difference will be built into the next price change through the RPP Variance Settlement. The RPP includes the Global Adjustment.
Notes on Comparing Electricity Offers
Make sure you read the contracts, in particular the Price clause. There are two types of offers:
What are "green" and "brown" power?
The term "green power" refers to electricity created from renewable energy sources, such as solar, wind, geothermal, some hydropower, and biomass. "Brown power" refers to power generated using traditional fossil fuels and nuclear energy.
What Makes Up an Electricity BillThere are a variety of fixed and variable components. Check with your utility for exact rates.
Deciding on the variable portion
Marketer prices only cover the electricity supply cost. The other charges, Transmission, Debt Retirement, System Operation and Global Adjustment, will be charged by your utility at the regulated rate regardless of who you choose as your electricity supplier.
Comparing with your current electricity bill
It's very difficult for several reasons. If you stay with your utility, you will pay the average spot market price over the first year, based on the Net System Load Shape (NSLS) for your utility. The NSLS is the profile (hourly use through the year) of the total of all electricity users in your utility purchasing from the utility, who do not have an interval meter. The spot market changes every hour. That has to be compared to a fixed rate, fixed term contract.
Comparing and deciding among the various offers
You have 2 fundamental choices; to stay with the utility and pay a variable rate, or go with a deregulated energy marketer. You'll see fixed or variable contracts, terms between 1 and 5 years and possibly other incentives such as air miles or a free month of electricity. This decision depends on your budget, and whether you expect electricity prices to go up or down.
Regulated rates are not fixed rates, nor can they be
In Ontario, the Ontario Energy Board regulates utility rates. Utilities can't offer fixed contracts; only marketers can. The utility will charge a set rate for a 6 month period, a rate called the Regulated Price Plan RPP. As a residential consumer you can opt out of the RPP and pay the monthly spot price instead. Or you can sign a longer term contract with a marketer. The reason you would sign a contract would be to avoid regulated rate changes in the future.
Regulated Price Plan (RPP) Settlement
If you sign an electricity contract in Ontario you will be subject to RPP Settlement. The regulated price plan, which you were on, is mean to smooth out the volatile market rates by setting the price for 6 months. However, if market prices are higher (or lower) than the RPP rate a variance account accumulates. When you leave the RPP for a contract, you will be charge for, or credited with, your portion of that account.