Veridian bills for General Service 3,000 to 4,999 kW customers include charges that are categorized as follows:
Veridian Connections Charges:
Charges Billed for Others:
Some of these line items have more than one component. Most, but not all of the charges, are based on your electricity usage (i.e. kWh).
For a detailed ‘Tariff of Rates and Charges’ including specific service charges click here.
Below is a breakdown of the calculations used to determine each of the ten line items that make up your Veridian bill.
$5,725.14 per month
A fixed charge that covers our administrative costs including meter reading, billing, customer service, and maintenance of accounts.
Reflects the costs involved in delivering the electricity from Veridian to your home or business, and building and maintaining the infrastructure. Varies with the amount of electricity used.
Transformer Allowance: 60¢/kW
Applies to customers who own their transformer.
This charge is for the electricity you used during the billing period. The price that you pay for electricity is dependent on your account status:
Effective November 1, 2018, electricity prices for customers on the tiered Regulated Price Plan are:
7.7¢/kWh for the first 750 kWh used per month
8.9¢/kWh for the remaining 750 kWh used per month
Global Adjustment: ¢/kWh
The price of wholesale electricity in Ontario is set by a competitive market. Certain generators receive payments through regulation or contracts that differ from market prices. Customers who pay the Hourly Ontario Energy Price for electricity or who buy electricity under contract from a licensed retailer will see this separate line item on their bill. It allocates their portion of the net adjustment arising from these different payments.
The Global Adjustment rate changes each month and is available at www.ieso.ca
Customers on the Regulated Price Plan will not have this line item presented on the bill. For these customers, the Global Adjustment is embedded in the fixed electricity rates that they pay under the price plan.
Transmission Connection Charge: $2.2982/kW
Transmission Network Charge: $3.1675/kW
The Debt Retirement Charge (DRC) will end for all electricity users on March 31, 2018. No user should be charged the DRC on electricity consumed beginning April 1, 2018.
This cost category includes three components:
* Your metered consumption is multiplied by an Adjustment Factor before calculating these charges. When electricity is delivered over a power line, it is normal for a small amount of power to be consumed, or lost, as heat. Equipment, such as wires and transformers, consumes power before it gets to your home or business. The adjustment factor accounts for these losses, and is applied to those charges denoted with an asterisk. Veridian’s adjustment factor is 1.0482 for most customers.
Other sources of information about electricity and rates are:
Ontario Energy Board Call Centre: 416-314-2455
Ministry of Energy: 1-888-668-4636 (toll-free)
Independent Electricity System Operator: 1-888-448-7777 (toll-free)