Residential Rates

THE REGULATED PRICE PLAN (RPP) 

In response to their mandate from the Minister of Energy, the Ontario Energy Board (OEB) has been managing the electricity pricing for Ontario consumers.  The goals of their program are the following:

  •      to better reflect the price paid to generators
  •      to smooth the price paid by consumers over time
  •      to create a 'true-up' mechanism whereby any shortfalls or over-payments are collected from or      refunded to consumers respectively

Since April 2005, residential, low-volume and designated consumers have been paying according to a 2-tiered pricing system - that is, two different prices for electricity depending on how much they use.  This is known as the Regulated Price Plan (RPP).  These prices have been set based on OEB forecasts of the price of electricity over the next 12 months.  

Residential customers may leave the Regulated Price Plan for the following reasons:

  •      If you sign or renew a contract with an electricity retailer
  •      If you move outside of Ontario

If you are leaving the Regulated Price Plan for either of the above reasons, your electricity bill will need to be settled - a charge or credit may apply depending on if your payments are below or above the costs of electricity received.  For moves within Ontario, you will not have to settle your share of the account.  (Further information...)

CURRENT ELECTRICITY PRICES

Grimsby Power currently uses the 2-Tiered Regulated Price Plan (RPP).  In the near future, the Time-of-Use pricing system may apply - notice will be given to all customers prior to this changeover.  Scroll down on the following link to see the current pricing structures and pricing for both systems:
 
IESO Residential Consumer Electricity Prices

To see how your electricity bill can change under different circumstances, check the following link:

Electricity Use Calculator for Residential Consumers 

BREAKDOWN OF CHARGES

ELECTRICITY COSTS:

This is the cost of the electricity supplied to customers during the billing period, and is the part of the bill that is subject to competition.  The electricity consumed is multiplied by the adjustment factor to account for the small amount of energy lost in the transmission lines.  Grimsby Power collects this money and pays this amount directly to their suppliers.

Customers with a contract pay the price made between them and their Retailer. Grimsby Power only invoices customers for the commodity price given to us by the Retailer. Questions concerning the price paid should be directed to the Retailer.

The majority of residential customers without a contract pay the regulated price plan rate.

We can help you keep your energy costs down. Check out the Energy Tips in the Conservation section of this website.

Remember, Grimsby Power doesn’t profit on the cost of the commodity. We charge a regulated price for delivering the electricity to your home.

ADJUSTMENT FACTOR: 1.0502

When electricity is delivered over a power line, it is normal for a small amount of power to be consumed or lost as heat. Equipment, such as wires and transformers, consume power before the electricity gets to the home or business. The adjustment factor accounts for these losses.

DELIVERY CHARGES include:

Transmission Charge: $1.08/kWh
This covers the costs involved in transmitting electricity from generators to the town.

Variable Distribution Charge: 0.93¢/kWh
This covers the cost of delivering electricity to your home as well as designing, building and maintaining the distribution system.

Customer Charge: $17.25
This is a charge for fixed costs that do not change with your consumption, such as meter reading and billing. The customer charge is stated on a 30-day basis.

We know you expect us to be efficient in our business and we’ve answered the challenge by offering some of the lowest residential distribution rates in the area.

GLOBAL ADJUSTMENT FACTOR

A Global Adjustment factor is applied to all non-RPP customers to make up the difference between market rates for electricity and the costs required by generators and transmission components of the electrical supply network.  Its value is calculated on a monthly basis by the IESO.  If a consumer is on a retail contract, the Global Adjustment Factor applies to their bill.  It is already incorporated into the RPP pricing system and is not billed separately to RPP consumers.

REGULATORY CHARGES include:

Wholesale Market Service: 0.65¢/kWh
This charge covers costs such as market regulation and the management of the system.

*Standard Supply Service (SSS) Rate: $0.25
This is an administration charge of $0.25 stated on a 30-day basis. 

* This service charge does not apply to customers who purchase their energy from a retailer.

DEBT RETIREMENT CHARGE: 0.7¢/kWh

This is a provincially mandated charge set to retire the debt of the former Ontario Hydro.
 

 

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