Fixed COVID-19 hydro rate coming to Ontario

© Can Stock Photo / HappyRojo

The province is introducing new electricity rate relief measures as a result of the COVID-19 pandemic.

Ontario ratepayers will now pay a fixed price of 12.8 cents per kWh at all times of the day.

Referred to as the COVID-19 Recovery Rate, the pricing will be automatically applied to all time-of-use customers starting on June 1 and be in effect until October 31.

According to a release by the provincial government on Saturday afternoon, the fixed rate is based on the average cost of electricity, set by the Ontario Energy Board.

“Since March 24, 2020, we have invested just over $175 million to deliver emergency rate relief to residential, farm and small business electricity consumers by suspending time-of-use electricity pricing…As Ontarians continue to work and learn from home, we are extending the suspension of time-of-use price to provide consumers with greater stability and predictability with their electricity bills,” Greg Rickford, minister of energy, northern development and mines, said in the news release.

More information about the COVID-19 Recovery Rate is expected to be announced during Premier Doug Ford’s daily briefing on Monday.