Lower Hydro Bills for Households and Small Businesses Across Ontario
Ontario Cutting Electricity Bills by 25 Per Cent
Premier Kathleen Wynne was in Guelph today to highlight how Ontario is lowering electricity bills by 25 per cent on average for households and small businesses, as part of a significant system restructuring that will address long-standing policy challenges and ensure greater fairness.
Premier Wynne visited two small businesses in Guelph that will benefit from Ontario's Fair Hydro Plan. Starting this summer, small businesses that receive a time-of-use bill similar to residential customers will be eligible for the 25 per cent cut. As a result, this plan is expected to help up to half a million small businesses and farms.
People with low incomes and those living in eligible rural communities will receive even greater reductions to their electricity bills. As part of this plan, rate increases over the next four years would be held to the rate of inflation for everyone.
These measures include the eight per cent rebate introduced in January, and build on previously announced initiatives to deliver broad-based rate relief on all electricity bills.
Taken together, these changes will deliver the single-largest reduction to electricity rates in Ontario's history.
Reducing electricity costs for households and small businesses is part of Ontario's plan to create jobs, grow our economy and help people in their everyday lives.
- Ontario’s Fair Hydro Plan would improve sector efficiency and modernize the province’s electricity market, working in collaboration with the Independent Electricity System Operator (IESO) and the Ontario Energy Board (OEB).
- Businesses eligible for the Regulated Price Plan (RPP) would see an average 25 per cent reduction in their bills. Eligibility for the RPP is based on the total energy consumption of an individual company.
- Ontario is expanding the Industrial Conservation Initiative (ICI) program by reducing the threshold from 1 mW to 500 kW and targeting more small manufacturing and industrial consumers.
“Launching a small business takes courage, passion and hard work. It also requires a supportive environment that encourages growth — and that’s where government plays an important role. Our plan will take some of the pressure off households and small businesses by lowering electricity bills by 25 per cent on average. It’s the smart thing to do for Ontario’s economy and the fairer way forward for families.”
“Ratepayers across Ontario have been loud and clear — we need to do more to help reduce costs. The government has listened and Ontario’s Fair Hydro Plan would reduce costs now and ensure an affordable and reliable electricity system. These new measures would have a significant impact on your monthly hydro bill and would help the most vulnerable.”
“I know people in Guelph are looking forward to hydro relief. Our government’s plan to make hydro rates fairer is one way that we can make sure growth in our economy makes a real difference in people’s lives. Reducing electricity bills by 25 per cent will help people in Guelph and right across Ontario, including many small business owners and farmers.”