March 27, 2020.
To help Ontarians through the rapidly evolving COVID-19 situation, the Government of Ontario is suspending time-of-use electricity rates, holding electricity prices to the off-peak rate of 10.1₵/kWh.
Ontario hydro rates for the next 45 days
The On-Peak and Mid-Peak rates were previously set up at 20.8₵/kWh and at 14.4₵/kWh respectively. The reduced price of 10.1₵/kWh will be available 24/7 to all time-of-use customers, who make up the majority of electricity consumers in the province. This accounts to approximately five million residential consumers, farms and some small businesses billed using time-of-use (TOU) electricity prices under the RPP. By switching to a fixed off-peak rate, time-of-use customers will see rate reductions of over 50 per cent compared to on-peak rates. You should expect these changes showing up on your next electricity bill (depending on billing cycle).
You may find the official Press Release here.
