As of March 24, the Government has set electricity prices for time-of-use customers at the lowest rate (“off peak”) of $0.10 / kWh, 24 hours a day, for a 45-day period. Most brokerages will already experience a savings on hydro due to reduced use, but this savings will apply to nearly every brokerage in the province. This benefit is directly tied to electricity usage between the hours of 7 A.M and 7 P.M. It should be noted that there is no additional relief from delivery or global adjustment charges which will still apply in full and can constitute over half of a brokerage’s hydro bill.
Average Brokerage = Dependent on average electricity usage during COVID-19 period, but reduced hydro expenses expected