Open Flex Electricity Plan
The rate for the Open Flex Electricity Plan is calculated using the previous month’s Weighted Average Monthly Hourly Ontario Energy Price + 1.5 cents/kWh for the electricity you use in each year of your agreement term.
How is the Open Flex Electricity rate determined?
The Open Flex electricity rate for energy consumed in any calendar month is equal to the Weighted Average Monthly Hourly Ontario Energy Price for the previous calendar month plus 1.5¢/kWh.
The Ontario IESO calculates a weighted average market price for each calendar month. This average is called the Weighted Average Monthly Hourly Ontario Energy Price and is published on the Ontario IESO website currently at http://www.ieso.ca/imoweb/marketdata/marketData.asp.
The Weighted Average Monthly Hourly Ontario Energy Price is calculated by the Ontario IESO in $/MWh. The Open Flex Plan is billed in ¢/kWh so to convert the Weighted Average Monthly Hourly Ontario Energy Price calculated by the Ontario IESO, divide this number by 10.
Example of how the Open Flex Electricity Plan works
June 2008 Consumption :
|
3.651 ¢/kWh |
Weighted Average Monthly Hourly Ontario Energy Price (May 2008) |
|
+ 1.500 ¢/kWh |
|
|
5.151 ¢/kWh |
TOTAL RATE |
Important points to keep in mind:
- The 1.5¢/kWh portion of your Energy Charge stays the same for the entire 5 years.
- Monthly Average Price component adjusts, according to the market, each calendar month.
- Price changes are posted on this web site near the beginning of the calendar month.
Current Open Flex Electricity rate
- document for the 5-Year Open Flex electricity plan (PDF)
The Monthly Average Price may change on a monthly basis thus the Energy Charge which you will be required to pay may also change accordingly on a monthly basis.
