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Mid and off peak electricity to be cheaper
The Ontario Energy Board released Regulated Price Plan (RPP) electricity commodity prices that take effect November 1, 2012. RPP prices apply to residential and small business consumers who buy electricity directly from their local utility.
Time-of-use (TOU) prices are changing as follows:
On-peak (from 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m. weekdays) = 11.8 ¢/kWh (+0.1 cent)
Mid-peak (from 11 a.m. to 5 p.m. weekdays)
Off-peak (from 7 p.m. to 7 a.m. weekdays and all day on weekends and holidays) = 9.9 ¢/kWh (- 0.1 cent)
= 6.3 ¢/kWh (- 0.2 cent)
The price change for consumers on TOU pricing is a decrease of approximately $1.02 on the “Electricity” line, or about 0.8% on the total monthly bill, for a residential consumer with a typical consumption pattern who uses 800 kWh per month. Residential consumers typically consume about 64% of their electricity during off-peak hours, and about 18% in each of the mid-peak and on-peak periods.
The main reason for the decrease in electricity prices is that the actual cost of electricity for RPP consumers during April 2012 through September 2012 was less than the forecast cost that was used to set the RPP prices for that period. The difference has been taken into account in setting the new RPP prices.
Overall bill changes during the past year remain within the province’s Long-Term Energy Plan cost projections.