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.
