The Ontario Energy Board allows for three alternative rate-setting methods by electricity distributors: Price Cap Incentive Rate-setting (Price Cap IR), Custom Incentive Rate-setting (Custom IR), and Annual Incentive Rate-setting Index (Annual IR Index). Grimsby Power Inc. uses the Price Cap Incentive Rate-setting method to apply for rate approval. This method allows for rate rebasing every five years. In the rate rebasing year Grimsby Power submits a full Cost of Service application. In between Cost of Service applications Grimsby Power will apply for a mechanistic increase to distribution rates. The mechanistic increase is determined by taking the Price Escalator, set by the Ontario Energy Board, and subtracting the Productivity Factor (0% applied to all distributors) and stretch factor. The stretch is assigned each year based on a three-year average of actual expenses less predicted costs. The table below shows the percentages below or above costs and the stretch factor that would be applied.
For rates effective January 1, 2021 Grimsby Power will have a stretch factor of 0% applied.
| Stretch Factor Applied | |
| 25% below cost | 0% |
| 10% - 25% below cost | 0.15% |
| Within 10% of cost | 0.30% |
| 10% - 25% above cost | 0.45% |
| 25% above cost | 0.60% |
Rate Application - Rates Effective January 1, 2021
Tariff of Rates and Charges Effective January 1, 2021
Rate Application - Rates Effective January 1, 2020
Tariff of Rates and Charges Effective January 1, 2020
Starting January 1, 2021, a portion of renewable energy contract costs will be funded by the Ontario government instead of electricity customers. This will lower electricity bills for large and mid-sized commercial and industrial consumers who do not participate in the Regulated Price Plan (RPP) or receive the Ontario Electricity Rebate (OER) by reducing Global Adjustment (GA) costs. Class A consumers could see savings of about 15 per cent on their bills, while non-RPP Class B consumers could see savings of about 16 per cent on their bills*. Actual savings will vary depending on customers’ location and electricity consumption. RPP customers who receive the OER, such as residential, small business and farm consumers, will receive an adjusted rebate percentage starting January 1, 2021, to keep the average residential bill flat compared to November 2020. For a temporary period of 28 days starting January 1, 2021, all RPP customers, including those paying both time-of-use and tiered rates, will also benefit from being billed at the off-peak rate for 24 hours a day, seven days a week. *In 2021, Class A and Class B consumers could see savings of about 11% and 12%, respectively, due to the Global Adjustment (GA) deferral repayment in effect for 12 months starting January 2021.
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If you are digging a hole deeper than 30 cm (12 inches) you require a locate to ensure there are no underground power lines. Accidently digging into one of these lines can be very dangerous and expensive. To request a locate, please contact Ontario One Call at 1-800-400-2255. Please call at least one week before you plan to dig.