Veridian bills for General Service 50 to 2,999 kW customers include charges that are categorized as follows:
VERIDIAN CONNECTIONS Charges:
- Customer Charge
- Delivery Charge
- Transformer Allowance
Charges Billed for Others:
- Standard Supply Service
- SSS Admin Charge
- Global Adjustment
- Transmission Connection Charge
- Transmission Network Charge
- Debt Retirement Charge
- Wholesale Market Services
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 line items that make up your Veridian bill.
$108.95 per month
A fixed charge that covers our administrative costs including meter reading, billing, customer service and maintenance of accounts.
$2.9903 per kW
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:
- Some customers in this rate class are on the Regulated Price Plan. Prices under this plan reflect market prices, but are fixed for six month terms to provide greater price stability for customers. For more information on this price plan, including eligibility criteria, please visit the Consumer Information section of the Ontario Energy Board’s website at: www.oeb.gov.on.ca.
- Customers who have signed contracts with licensed electricity retailers are billed on the basis of their Retail Contract Price. If you have contracted with a retailer for your electricity supply, your retailer’s name and contact information will be presented on your VERIDIAN bill.
- Those customers who are not eligible or have opted out of the Regulated Price Plan and who have not signed contracts with retailers are billed at the Hourly Ontario Energy Price (HOEP). This price is based on the spot market price for electricity as established in the Independent Electricity System Operator (IESO) administered market. All electricity charges are based on the metered consumption recorded at your electricity meter, multiplied by the adjustment factor *.
Effective May 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
Transmission Connection Charge: $2.0926/kW
- Covers the cost of connecting VERIDIAN to Hydro One’s transmission lines, as well as the cost of transforming the electricity from the high voltages used in the transmission system to the lower voltages used by VERIDIAN. It is charged based your peak kW demand peak for each billing period.
Transmission Network Change
Transmission Network Charge: $2.8750/kW
- Covers the cost of delivering the electricity from the generating stations to VERIDIAN through Hydro One’s transmission system. This charge is billed on your peak kW demand registered between 7 a.m. and 7 p.m. during each billing period.
- Transmission costs vary with the amount of electricity used.
Debt Retirement Charge
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.
Ontario Ministry of Finance Website
Wholesale Market Service Charge:* 0.39¢ per kWh
This cost category includes three components:
- The Wholesale Market Service Charge – recovers the cost of the services provided by the Independent Electricity System Operator (IESO) to operate the electricity system and administer the wholesale market.
- The Rural or Remote Electricity Rate Protection (RRRP) Charge – funds the RRRP Program, which provides rate protection to consumers located in rural or remote areas, where the cost of distributing electricity is higher.
- Wholesale Market Service Charge*: 0.36¢/kWh
Rural or Remote Electricity Rate Protection (RRRP) Charge*: 0.03¢/kWh
Standard Supply Service (SSS) Charge – covers administration costs for customers purchasing electricity under the Regulated Price Plan or at market prices. Twenty-five cents per month. Does not apply to customers who purchase their electricity from a registered retailer.
* 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)