Ontario Energy Board launches consultation of cost-saving program for businesses

The Ontario Energy Board (OEB) has launched a consultation on new methods to price power to retail stores (Class B, non-Regulated Price Plan [RPP] ratepayers). This method will explore different ways of dynamically pricing the Global Adjustment, eventually culminating in a research pilot.

RCC was integral in instigating this consolation as early research from the OEB suggests alternative models of pricing could mean an average savings of 10.7 per cent on energy costs for business.

Savings are expected for other ratepayers, too, with a reported average of 1.8 percent drop in costs for residential customers. This consultation and subsequent pilot will attempt to confirm that.

Of interest to our members – this means millions in savings per company, and will incent the transition to technology that shifts/stores/generates power.

Minister of Energy Todd Smith has released the following letter on the consolation and invites potential participants to join by visiting OEB’s website.

The consultation will begin with a stakeholder meeting in July, 2022. Stakeholders are expected to have until the end of November, 2022 to participate.

To receive updates directly from the OEB on this file, register here.