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Electricity This is the cost of the electricity supplied to you during this billing period and is the only part of the bill that is subject to competition. PowerStream collects this money and pays this amount directly to the Independent Electricity System Operator who in turn pays the generators.
Retail Contract: As an electricity consumer in Ontario, you can choose to purchase your power from an electricity retailer. However should you choose to sign with a retailer, you waive your option to remain on the Regulated Price Plan. PowerStream will continue to deliver electricity to you regardless. |
| | Three key things consumers need to know about buying from an electricity retailer: | | | | | 1. | The price you pay is set out in your contract with the electricity retailer. | | | | | | The price you pay per kWh, as shown on the "Electricity" line of your electricity bill, will be the price stated in the contract you sign. This price is determined by the electricity retailer and is not regulated by the OEB. Usually the price is fixed for a number of years, but it may change during the term of the contract. | | | | | 2. | PowerStream will continue to bill you for other items. | | | | | | If you switch to an electricity retailer, there are items on your bill that are still charged to you by PowerStream. PowerStream will continue to deliver your electricity and charge amounts for the "Delivery", "Regulatory" and "Debt Retirement Charge" lines on your bill. Your contract with the electricity retailer only affects the "Electricity" line of your bill. | | | | | 3. | You will have to settle your outstanding account if you leave the Regulated Price Plan. | | | | | | If you switch to an electricity retailer, you will need to settle the outstanding Regulated Price Plan amount you have with PowerStream. Why? With PowerStream, you buy and pay for electricity under the Regulated Price Plan, in which you are charged a stable price (governed by the OEB) for the electricity you consume. That price may not reflect what is paid to generators. Eventually the difference needs to be settled: | | | | • | For consumers that remain on the Regulated Price Plan, the difference is tracked (in something called a variance account) and incorporated into future Regulated Price Plan prices set by the OEB. | • | Consumers who switch to an electricity retailer may either receive a credit or need to pay outstanding charges related to their electricity use while they were on the Regulated Price Plan. | • | Consumers will be reimbursed if, while they are on the Regulated Price Plan, have been paying more for electricity than was paid to generators; or | | • | Consumers will need to pay PowerStream if, while they are on the Regulated Price Plan, have been paying less than was paid to generators. | Ý |
| | Regulated Price Plan Settlement | | | This is a one-time charge or credit, called the "RPP Settlement", that will appear on your final bill as a Regulated Price Plan consumer. In June 2006, the OEB issued a Compliance Bulletin advising Retailers of their obligations to notify each prospective customer (new or renewal) of the Final Variance Settlement Adjustment if the customer signs or renews a fixed rate Retail Contract. How can you find out how much you would pay or receive if you were required to "settle" with PowerStream? The OEB posts a ¢/kWh value on its Web site. You can estimate the amount you would receive or pay by multiplying this value by your consumption over the most recent 12 months. This ¢/kWh value is called the "Final RPP Variance Settlement Factor" and is updated around the 15th of each month. Link to the OEB - Final RPP Variance Settlement page The actual Retail Settlement Variance Amount that will apply will be based on the Final Regulated Price Plan Variance Settlement Factor that is in effect when PowerStream completes the customer’s last meter reading as a Regulated Price Plan Customer. | Ý | | | Provincial Benefit & OPG Rebate | | | | When switching to an electricity retailer, the bill you receive will look a little different. Some of the charges will look exactly the same, such as the “Delivery”, “Regulatory” and “Debt Retirement Charge” lines of your bill. Other items will be different. These include: | | | Provincial Benefit: What is the Provincial Benefit? It can be a credit or a charge to you, and is your share of the difference between government regulated and contract prices for electricity paid to certain generators and the market prices they would have received had they not been subject to government regulation or contracts. If you buy electricity under the Regulated Price Plan, an estimate of this amount is already reflected in the stable price for electricity set by the OEB, shown on the “Electricity” line of your bill. If you buy from an electricity retailer, the Provincial Benefit is not included in the contract price offered by the retailer, so on your bill it’s shown as a separate item. By law, the Provincial Benefit applies to you and cannot be transferred to an electricity retailer or any other party. | | | OPG Rebate: The Ontario Government placed a cap on the amount paid to certain generation facilities owned by Ontario Power Generation (OPG). Consumers will receive a rebate for any revenues from those facilities exceeding an average price of 4.7 cents/kWh in 2007-08. On May 1, 2008, the revenue cap will increase to 4.8 cents/kWh for the subsequent 12 month period. An estimate of the OPG Rebate is included in the Regulated Price Plan prices. Consumers that leave the RPP and sign a retail contract will receive the OPG rebate, if any, on a quarterly basis. The total rebate amount will be calculated using only the electricity you used after you left the RPP. You are able to transfer the OPG Rebate to an electricity retailer, so you should read the contract before signing to see if you keep any OPG Rebate or if it is transferred to the retailer. As a Regulated Price Plan consumer, you do not see the OPG Rebate on your bill because an estimate of this rebate is already reflected in the stable price for electricity set by the OEB, shown on the “Electricity” line of your bill. | Ý |
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| | | WHERE TO FIND
MORE INFORMATION: | | | The Energy Choice is Yours is an Ontario Energy Board (OEB) initative to help energy consumers become more aware of their rights, options and responsibilities. | | | To see a comparison of all electricity contract prices being offered by retailers, go to www.energyshop.com. |
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