On May 30, 2020, the Government of Ontario announced changes to the electricity price that consumers on time-of-use (TOU) pricing under the Regulated Price Plan (RPP) will pay. Starting June 1, 2020, RPP consumers on TOU pricing will pay a fixed price of 12.8 ¢/kWh, which the government refers to as the COVID-19 Recovery Rate, for electricity consumed in any hour of the day, on any day of the week. The government has stated that this price will be in effect until October 31, 2020.
The 12.8 ¢/kWh COVID-19 Recovery Rate replaces the emergency price of 10.1 ¢/kWh, which was introduced by way of an Emergency Order under the Emergency Management and Civil Protection Act on March 24, 2020 and which expired at the end of the day on May 31, 2020. The 12.8 ¢/kWh price is equivalent to the forecast average cost of supply for RPP consumers for the November 1, 2019 to October 31, 2020 period as set out in RPP Price Report issued by the Ontario Energy Board (OEB) on October 22, 2019.
The COVID-19 Recovery Rate does not apply to consumers who have a contract with an electricity retailer. To learn more, please visit the Ontario Energy Board website here.