ANALYSIS: Ontarians pay almost 55% more for on-peak winter electricity than ten years prior

Some of the following info comes from the Ontario Energy Board (oeb.ca).

All percentage calculations have been calculated by Broderick Visser of Diverge Media

When compared to ten years earlier, in 2010, Ontarians paid 9.9¢/kWh or 11.8¢/kWh less than they will this year for on-peak winter hours. That’s a 54.4 per cent increase in ten years for on-peak hours.

On Nov. 1, 2020 Ontarians began paying winter time-of-use rates for electricity. The new on-peak rate this year is 21.7 ¢/kWh on weekdays between 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m.

On-peak, mid-peak and off-peak winter electricity pricing

The following data was extracted from the Ontario Energy Board’s website.

As you can see above, the trend has increased (for on-peak pricing) at an average rate of 12.57 per cent per year for the last ten years. (*Note in 2016 to 2017 the cost dropped by 4.8¢/kWh or -0.27 per cent. In 2017 to 2018 there was no increase or decrease).

Winter Tiered Pricing

There is a lower tier price and a higher tier price set for certain customers. They are set prices for a certain amount of consumed kilowatt hours before hitting a threshold where the cost goes up.

Higher tiered pricing has increased at a rate of 8.608 per cent per year for the last ten years, while lower tiered pricing increased at a rate of 7.732 per cent per year for the last ten years.