Electricity Prices for Toronto Residential Customers

Supplier Variable Price 1 Yr. Fixed 2 Yr. Fixed 3 Yr. Fixed 5 Yr. Fixed Features Signup MyRate Energy -- 4.1 4.2 4.45 4.99 Full requirements price Superior Energy -- 3.8 3.9 4.2 -- See notes below Canada Energy 4.04 -- -- -- -- variable with a cap of 5.5 ¢/kWh Direct Energy -- -- -- 6.99 -- 100 % Green Power --

By default, the suppliers are sorted by the number of customers signed on this site.

Disclaimer: Energyshop has prices on a best efforts basis and is not responsible for discrepancies.

If You Sign a Contract

When you sign a contract, you leave the Regulated Price Plan (RPP). There are two changes to your bill:

• The Global Adjustment (formerly Provincial Benefit) is added to or deducted from your bill.
  
  It's included in the RPP; separate if you're not. This may be a rebate or surcharge depending on the spot market price. It's been a surcharge for a few years. See the current rate.
• You will either receive a credit or pay a charge due to the RPP variance account. This is done by the OEB to balance the RPP price with the actual cost of the electricity purchased.

Regulated Price Plan (RPP) Prices

Residential customers not in fixed price contracts are on the Regulated Price Plan (RPP):

If you do not have a Smart Meter:

If you do have an activated Smart Meter:

These prices are set until May 1st, 2012, but if the utility has to pay more or less for electricity, the difference will be built into the next price change through the RPP variance account. The RPP includes the Global Adjustment.

Notes on Comparing Electricity Offers

Make sure you read the contracts, in particular the Price clause. There are two types of offers:

• Load Following, no balancing costs. This includes Canada Energy, Direct and MyRate.
• Contracts with Pool Balancing Adjustment. Superior, Planet, Summitt and Just Energy have this clause. This is to make up any difference in amount or time of use between historical use and use during the contract period. The suppliers group customers together into pools and purchase electricity contracts to match most of the historical use of that group. If the purchase does not match actual use, an adjustment is made. The maximum adjustment is in the contract, usually 1 cent/kWh.

What are "green" and "brown" power?

The term "green power" refers to electricity created from renewable energy sources, such as solar, wind, geothermal, some hydropower, and biomass. "Brown power" refers to power generated using traditional fossil fuels and nuclear energy.

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What Makes Up an Electricity Bill

Deciding on the variable portion

Marketer prices only cover the electricity supply cost. The other charges, Transmission, Debt Retirement, System Operation and Global Adjustment, will be charged by your utility at the regulated rate regardless of who you choose as your electricity supplier.

Comparing with your current electricity bill

It's very difficult for several reasons. If you stay with your utility, you will pay the average spot market price over the first year, based on the Net System Load Shape (NSLS) for your utility. The NSLS is the profile (hourly use through the year) of the total of all electricity users in your utility purchasing from the utility, who do not have an interval meter. The spot market changes every hour. That has to be compared to a fixed rate, fixed term contract.

Comparing and deciding among the various offers

You have 2 fundamental choices; to stay with the utility and pay a variable rate, or go with a deregulated energy marketer. You'll see fixed or variable contracts, terms between 1 and 5 years and possibly other incentives such as air miles or a free month of electricity. This decision depends on your budget, and whether you expect electricity prices to go up or down.

Regulated rates are not fixed rates, nor can they be

In Ontario, the Ontario Energy Board regulates utility rates. Utilities can't offer fixed contracts; only marketers can. The utility will charge a set rate for a 6 month period, a rate called the Regulated Price Plan RPP. As a residential consumer you can opt out of the RPP and pay the monthly spot price instead. Or you can sign a longer term contract with a marketer. The reason you would sign a contract would be to avoid regulated rate changes in the future.

Regulated Price Plan (RPP) Settlement

If you sign an electricity contract in Ontario you will be subject to RPP Settlement. The regulated price plan, which you were on, is mean to smooth out the volatile market rates by setting the price for 6 months. However, if market prices are higher (or lower) than the RPP rate a variance account accumulates. When you leave the RPP for a contract, you will be charge for, or credited with, your portion of that account.

Find out the carbon dioxide (CO₂) emissions electricity use causes.

If you've seen a price from a marketer that is different from the list above, and would like to report the price to Energyshop.com so others can make an informed purchasing decision, enter it below. All comments are welcome.