Ontario Government Introduces 8% Provincial Rebate
Effective January 1, 2017, the Ontario Government will be providing an 8% rebate on electricity charges. Residential condominiums and individual owners in residential condominiums who pay their own hydro (either through third party billing or through a direct account with the local hydro service) are eligible for this new rebate program. Applicable savings will be retroactive to January 1, 2017. The rebate will automatically be applied to resident bills and your bill statements and there is no action needed on your part.
Condominiums who use third party billing services and sub-metering providers should review your bills to ensure that the local electricity utility implements the provincial rebate by the July 1, 2017 deadline set by the Ontario Energy Board.
- How is the rebate calculated?
The rebate is calculated as 8% of your electricity, delivery, regulatory, and debt retirement charges – residential condominiums should review if they are still paying the debt retirement charges as these charges were to be removed effective January 1, 2016.
- My bill period straddles December 2016 and January 2017. How will my rebate be calculated?
The rebate amount for a transition bill will be prorated based on electricity, delivery, regulatory, and debt retirement charges incurred from the effective date of January 1, 2017 onward.
- Will residents be informed of the new rebate?
Residents will be informed of the new rebate through a bill insert in January 2017