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
The Ontario Energy Board has set electricity prices effective May 1, 2021. These prices will appear on the Electricity line of you bill and are only for the electricity you use. They do not include other charges like delivery. Time of Use prices per kilowatt hour: Off Peak – 8.2¢ Mid Peak – 11.3¢ On Peak – 17.0¢ Tiered prices per kilowatt hour: Residential Tier 1 – First 600 kWh – 9.8¢ Tier 2 – Above 600 kWh – 11.5¢ The Ontario Electricity Rebate (OER) has also changed effective May 1, 2021. Effective May 1, 2021 the OER will be 18.9%.
READ ALL ARTICLESThe Ontario Energy Board has set electricity prices effective May 1, 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.