Yes. If you later decide to switch back to TOU pricing, the same process will apply.
The switch between TOU and Tiered prices takes effect at the start of a billing period. A billing period is generally about 30 days long, and the start and end dates are identified on your electricity bill.
Many customers are not billed based on a calendar month, and the start of your billing period can be any given day of a month. We must receive your form at least 10 business days before that billing period starts, and provided there are no issues with your form, your pricing will be changed on your next billing period.
There is no guarantee you will save money if you switch from TOU to Tiered prices. The difference in your electricity bill will vary, depending on how much electricity you consume in a month.
For more information, visit oeb.ca/choice.
To determine if TOU or tiered rates will suit your needs, evaluate your day-to-day habits and overall energy consumption.
Look at the Electricity line of your bill to see how much power you use in each of the three TOU price periods. Keep in mind the effect of COVID-19 on your electricity use (for example, you may be working from home when you normally wouldn’t be).
For more information, visit oeb.ca/choice.
If you want to continue paying TOU prices, you don’t need to do anything.
The COVID-19 Recovery Rate is a fixed electricity price of 12.8 ¢/kWh for all hours of the day, which the government put in place as of June 1, 2020 as part of its response to the COVID-19 pandemic. This fixed price ends on October 31, 2020. On November 1, 2020 the TOU prices approved by the Ontario Energy Board (OEB) will replace the fixed price.
