Ontario extends electricity rate reduction to Oct. 31

TORONTO – Electricity rate payers across the province will not be charged time-of-use rates until the end of October.

Energy minister Greg Rickford announced on May 30 that a new fixed-rate electricity price will be introduced on June 1.

The new rate, dubbed the COVID-19 Recovery Rate, will be 12.8 cents per kilowatt hour and will be automatically applied to all time-of-use customers.

This price will be in place until Oct. 31.

On March 24, the province suspended time-of-use electricity pricing due to COVID-19 until May 31.

Since then, electricity customers have been paying the off-peak rate of 10.1 cents per kilowatt hour.

In a press release, Rickford said that the COVID-19 Recovery Rate - 2.7 cents per kilowatt hour more than the current off-peak rate - is based on the average cost of electricity, which is set by the Ontario Energy Board.

“Our government is committed to supporting families and business-owners as we plan for the safe and gradual reopening of the province,” said Rickford.

More information about the COVID-19 Recovery Rate will be provided by Premier Doug Ford during his daily briefing on June 1.