Queen's Park is taking more of the edge off your electricity bill.
Effective November 1, it's bumping up the Ontario Electricity Rebate (OER) on your bill from 11.7% to 19.3%.
It'll amount to a $26 monthly discount for the average household, which adds up to $312 over the course of a year.
But that's not all. The provincial government is also dishing out an extra $50 million for the Ontario Electricity Support Program (OESP), giving a helping hand to more low-income families.
Todd Smith, the Minister of Energy, said, "We're all about keeping your electricity affordable and reliable. We're not leaving you in the dark when it comes to paying those bills."
The government makes this OER tweak every October to keep things steady, so you can budget accordingly.
As for the OESP, the government is raising the income limits by up to 35%. For instance, a four-person household, which is eligible for an additional $40 each month in financial support, will see the maximum income eligibility threshold increase from $48,000 to $65,000 per year after-tax.
The higher income limits for OESP start on March 1, 2024.
banner image: The Canadian Press
