In response to their mandate from the Minister of Energy, the Ontario Energy Board (OEB) manages the electricity pricing for Ontario consumers. The goals of their program are the following:
CURRENT ELECTRICITY PRICES
Effective May 1st 2012, Grimsby Power moved to the RPP - Time-of-Use pricing system for billing. Under this pricing system, customers are billed a lower price for electricity used in the evenings or on weekends, and a higher price for electricity used during weekdays. A notice explaining the details of this pricing structure was added to the news section (April 13, 2012). Check the following links to see the pricing structures and pricing for both the old RPP-Tier and new RPP-Time-of-use systems:
IESO Residential Consumer Electricity Prices
Residential customers may leave the Regulated Price Plan for the following reasons:
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...)
BREAKDOWN OF CHARGES
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. Grimsby Power collects this money and pays this amount directly to their suppliers.
The majority of residential customers pay the regulated price plan rate as set by the Ontario Energy Board for their electricity commodity.
Customers with a retail contract pay the price arranged between them and their Retailer. Grimsby Power only invoices customers for the commodity price specified by the Retailer. Questions concerning the price paid should be directed to the Retailer.
We can help you keep your energy costs down. Check out the Energy Tips in the Conservation section of this website.
Grimsby Power makes no profit on the electricity commodity, and charges a regulated price for delivering the electricity to your home. For details, refer to the Tariff Rates shown in the Regulatory section of this website.
These are the costs of delivering electricity from generating stations across the Province to Grimsby Power, and then to your home or business. This includes the costs to build and maintain the transmission and distribution lines, towers and poles, and to operate provincial and local electricity systems.
A portion of these charges are fixed and do not change from month to month. The rest are variable and increase or decrease depending on the amount of electricity that you use. The delivery charge also includes costs relating to electricity lost through distributing electricity to your home or business. Grimsby Power collects this money and pays this amount directly to our suppliers.
Transmission Charge: .90¢/kWh - (new rate effective Jan. 1, 2017)
This covers the costs involved in transmitting electricity from generators to the town over the high voltage wires.
Term Adjustment Factor: 1.0457
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 it gets to your home or business. This term adjustment factor accounts for these losses.
Net Variable Distribution Charge: .70¢/kWh - (new rate effective Jan. 1, 2017)
This covers the cost of delivering electricity to your home as well as designing, building and maintaining the distribution system.
Customer Charge: $23.24/month - (new rate effective Jan. 1, 2017)
This is a charge for fixed costs that do not change with your consumption, such as costs for billing and smart meter installations. The customer charge is stated on a 30-day basis. Details are contained in the Tariff sheet posted in the Regulatory section of this website.
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 are set by the provincial government to recoup costs associated with providing electricity to the Ontario market. They include:
|Wholesale Market Service:||0.36¢/kWh (rate effective Jan 1, 2016)|
|Rural Rate Protection Charge:||0.03¢/kWh (rate effective Jan 1, 2016)|
This charge covers costs such as market regulation and the management of the system.
*Standard Supply Service (SSS) Rate: $0.25/month
* This service charge does not apply to customers who purchase their energy from a retailer.
DEBT RETIREMENT CHARGE: 0.7¢/kWh
Effective January 1, 2016 this charge is no longer billed to residential customers.