Reduced Covid Electricity Rates Do NOT Apply to All Condos

Reduced Covid Electricity Rates Do NOT Apply to All Condos

Typically, electricity prices change twice a year – May and November.  The government announced two price changes in less than one week in December! This is unprecedented change.

Announced December 15th – effective Jan 1:

  • Electricity commodity prices reduced; and
  • The Ontario Electricity Rebate also reduced from 33% down to 21%.
  • IMPACT – An overall 3% reduction to the average annual condominium electricity budget.

Announced December 22nd – also effective Jan 1:

  • From January 1 to January 28, 2021, customers on the Regulated Price Plan (RPP) will pay a fixed price of 8.5 ¢/kWh for all the electricity they consume, regardless of the time of day or the total volume consumed.
  • IMPACT:
    • Customers on the RPP will save $2,500 on average in this one month.
    • However, approximately 30% of our clients are NOT on the RPP, and are therefore ineligible for this discount.