Ontario increases the cost of electricity to 12.8 cents from 10.1 cents
Premier Ford announced the COVID-19 Recovery Rate of 12.8 cents per kilowatt hour that will be applied 24 hours per day, 7 days a week. This rate is a slight increase from the previous 10.1 cents per kilowatt hour but continues the suspension of time-of-use (TOU) energy pricing by offering a single, fixed hydro rate. The fixed rate will be applied to TOU customer bills automatically in an effort to provide stability in pricing. The rate will be in place until October 31, 2020. In addition, the Ontario Energy Board has extended its disconnection ban until July 31 for residential customers.
In addition to the COVID-19 Recovery Rate, Energy Minister Rickford announced that customers will have the ability to choose the rate best for them beginning November 1, 2020. Beginning then, electricity customers will have the choice to be billed on TOU electricity rates or through tiered pricing.
Finally, Minister Rickford announced the COVID-19 Energy Assistance Program for Small Business. The $8 million dollar assistance plan will provide support to businesses that are struggling with energy bill payments as a result of the pandemic.