Electricity Prices
How can I save on my energy bills?
You can save money on your energy bills by reducing the amount of electricity you use in your home. Learn more about conserving energy.
The government has also launched the following initiatives to help Ontario families and businesses manage electricity bill increases:
Ontario Clean Energy Benefit
Provides a 10 per cent benefit to help consumers manage rising electricity prices for the next five years.
Northern Ontario Energy Credit
A new, permanent energy credit designed to help families and individuals in the North who face higher energy costs.
Ontario Energy and Property Tax Credit
Up to $1,025 for eligible Ontarians paid quarterly.
Why are electricity prices changing?
Ontario needs new electricity infrastructure to continue to meet growing energy demands. That means upgrading old transmission lines and power plants. It also means shutting down coal plants that pollute the air and moving to cleaner, sustainable sources of electricity.
How much will I have to pay?
Over the next 20 years, including taxes and other charges, residential electricity bills are projected to rise about 3.5 per cent per year on average. In the short term, however, electricity prices are expected to rise by about 7.9 per cent annually for the next five years. This increase will help pay for critical improvements to the electricity infrastructure and investment in new renewable energy generation.
After five years, Ontario will have largely completed the transition to a cleaner more reliable system due to the replacement of coal-fired generation and new renewable generation. Once these investments have been made, price increases are expected to level off.
Where is my money going?
Your electricity bill payments are helping to:
- Improve transmission and distribution lines that carry power to our homes, hospitals, schools and businesses.
- Upgrade nuclear plants that produce about 50 per cent of Ontario’s current electricity supply.
- Build new renewable sources of electricity like wind turbines and solar farms.
- Help clean up Ontario’s air by closing smog-producing coal plants.
- Construct new hydroelectric projects like the one in Northern Ontario on the Lower Mattagami River — Ontario’s largest hydroelectric project in 40 years.
