Electricity retailers are independent brokers who arrange contracts between electricity buyers (customers) and energy sellers (suppliers). Typically, they offer contracts that lock in fixed electricity rates, often for one-to-five-year periods.
Note that electricity retailers quote only on your bill’s “commodity” or electrical component – typically 50 per cent of total charges. Other charges on your bill include transmission and distribution charges, which are regulated and apply to all consumers.
Options for Buying Electricity
The best choice depends on your individual needs and preferences. Here are your three available options when buying electricity.
With this option, you pay a regulated kWh per kWh for your electricity. The Ontario Energy Board sets RPP prices, which change twice yearly, in May and November.
If you leave the Regulated Price Plan, you will need to settle your Regulated Price Plan (RPP) account with GrandBridge Energy since the stable price you’ve been paying may not reflect the cost of electricity up to that time. You will receive or pay your share of the difference (called the “RPP Settlement”) between the amount that all Regulated Price Plan consumers have paid for electricity and the amount that has been paid to electricity generators. The RPP Settlement will be calculated by your utility according to a formula established by the OEB.
With an electricity retailer, you pay the contracted price per kWh for your electricity. Your contract with the electricity retailer only affects your bill’s “Electricity” line. The electricity retailer determines this price and is not regulated by the Ontario Energy Board. Usually, the price is fixed for several years, but it may change during the contract term.
GrandBridge Energy will continue to bill you for “Delivery,” “Regulatory Charges,” and “Debt Retirement Charges.”
With spot market pricing, you pay actual wholesale market prices for electricity, which change every hour.
GrandBridge Energy will continue to bill you for “Delivery,” “Regulatory Charges,” and “Debt Retirement Charges.”
Access the Comparison Calculator
The comparison calculator estimates your bill with a retailer versus provincial Time-of-Use, Ultra-Low Overnight, or Tiered billing. Access the comparison tool in My Account.
Price Comparisons – May 1, 2024 to October 31, 2024
Residential price comparison
Non-residential price comparison
Tips for Considering Retail Energy Contracts
There are five things to remember if you are approached to sign an energy contract for your home or small business:
- Ensure you get a business card and look at the salesperson’s ID badge first.
- Avoid sharing personal information (i.e. your gas or electricity bill) unless you are sure you want to sign a contract.
- Read the contract, disclosure statement and price comparison provided by the salesperson.
- After you acknowledge receipt of the contract, you have ten days to cancel it. Take the time to read the contract in detail again and research any questions you
- may have. You can also cancel an electricity contract up to 30 days after you receive your first bill under the contract.
- The Ontario Energy Board and GrandBridge Energy do not go door-to-door.
Returning to the Regulated Price Plan
You may have to pay a charge if you terminate your contract with an energy retailer before the expiration date. That charge is specified in your contract with the retailer. You will automatically return to the Regulated Price Plan when terminating your contract.