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Changes to Electricity Cost for Condos

The Ontario government has announced the introduction of a new Ontario Electricity Rebate program, in replacement to the old “Fair Hydro Plan” set by the previous government.  These changes, some of which are effective November 1, 2019, are meant to show the true costs of electricity to Ontarians.

The province is announcing that the electricity line on our bills will rise but an increased percentage rebate will be applied to some eligible users. The net effect of this new program is somewhat unclear at this stage (at least, it is to me). It will greatly vary depending on the rate structure you are on presently (Regulated Pricing Plan, Class B commercial rate or Global Adjustment Plan, etc.) and how your complex is metered (bulk metered vs. suite metered, etc).

The good news is that the new rebate program will also be offered to residential condominiums, although you will have to apply or notify you Local Distribution Company to benefit from this new program.  Such notification will be required by January 31, 2020 in order to receive the rebate beyond February 1, 2020.

We are still making inquiries with respect to eligibility, net effect and notice requirements. In the meantime, you can forward any questions to your Local Electricity Distribution company (Hydro Toronto, Hydro Ottawa, Oakville Hydro….) or to the Ontario Energy Board.  Not sure about who is your Local Distribution Company?  Click here.

You can read more on the new Ontario Electricity Rebate program by clicking below: