Electricity Retailers

Electricity retail companies may be knocking on your door, asking you to sign-up for a fixed electricity rate as well as other products and services. These companies are not affiliated with Veridian Connections. Below are some of the most commonly asked questions about electricity suppliers.

• What do electricity retailers do?
• What do I need to know before I sign a contract with an electricity retailer?
• What happens if I choose not to choose an electricity retailer?
• Who will read and maintain the meters at my home or business?
• Who fixes power lines if they fail due to weather or accident?
• Who will handle any complaints I may have?
• Can I be switched over to a new supplier without my knowledge or approval?
• Can I cancel a contract with a supplier once I've signed it?
• What is the current electricity fixed rate?
• What happens if I switch from Standard Supply Service to a Retailer contract now?
• Why do I need to settle with you if I have been paying my Standard Supply bills in full all along?
• What if I have a smart meter installed?
• What happens if I move?
• Why am I asked to show my utility bill to retailers?
• How can I find out if a retailer is licensed?
• Who will bill me for electricity?
• What questions should I ask in order to compare retailers?

Electricity retailers contract for wholesale electricity as well as other products and services and retail them to customers. They can provide customers with a wide range of products, services, payment plans and other incentives, in addition to electricity. When you're dealing with an electricity retailer, cost is often only one element of the total package. That's why it's important to shop around and compare the various options and terms available before signing a contract.

Before you sign a contract, read it carefully so you're aware of all of the terms and conditions. Ask questions if there is anything that is unclear, and ensure that the retailer is licensed by the Ontario Energy Board (OEB) to sell electricity. The Ontario Energy Board has posted on their web site the Electricity Retailer Code of Conduct. This regulatory code document provides retailers with clear definitions and directions on the rules to follow when selling new electricity contracts to consumers. Call 1.877.632.2727 or visit the OEB Web site at www.oeb.gov.on.ca.

While customers will be free to choose an electricity retailer, whether they decide to do so is entirely up to them. Customers who don't choose a retailer will continue to be served by VERIDIAN CONNECTIONS and receive a standard supply electricity service.

VERIDIAN CONNECTIONS will continue to read your meter.

VERIDIAN CONNECTIONS will continue to maintain the electrical system, regardless of how you purchase your electricity.

For power outages, or issues related to power supply and delivery, you should contact VERIDIAN CONNECTIONS at the number provided under the Contact VERIDIAN page of our website. For complaints related to your electricity contract, please call the retailer you signed a contract with.

No, a retailer cannot supply electricity to a customer without first obtaining written permission through a contract that you signed.

Before you sign any contract, make sure that you understand the terms and conditions, as this will be a legally binding agreement. You should also ask for a copy of the contract.

If you're a residential customer and you sign a contract, you have a 10-day "cooling off" period in which you can change your mind and cancel, in writing, without penalty. To do this, you must send a letter 'to the retailer' by registered mail, fax or by personally delivering it to the retailer to give notice you want to cancel.

Click here for current standard supply service rate information for residential customers.

If you switch to an electricity retailer, you will need to settle the outstanding Regulated Price Plan account you have with your utility.

With the utility, you buy and pay for electricity under the Regulated Price Plan, in which you are charged a stable price (set 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 a variance account and incorporated into future Regulated Price Plan prices set by the OEB.
• Consumers that 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.
  • You will be reimbursed if consumers on the Regulated Price Plan have been paying more for electricity than was paid to generators; or
  • You will need to pay your local utility if these consumers have been paying less than was paid to generators.

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. How can you find out how much you would pay or receive if you were required to 'settle' with your utility? 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.

VERIDIAN CONNECTIONS will introduce Time Of Use Rates and advise our customers as soon as the Ontario Energy Board (OEB) announces a mandatory effective/start date. The OEB has not yet announced that date. If you have signed with a retailer after Dec 9, 2002 the contract price signed with your retailer will be in effect.

You must give your retailer at least 60 days notice of your move date and new address information. You must also notify your local electrical utility company. If you move to an area where your retailer can supply you with electricity, then your retailer will inform you about their current offers available to you at your new address.

Retailers may ask for a copy of your natural gas or electricity bill to verify your address information and utility account number. By reviewing your bill, retailers can also verify that you have not signed up with another provider.

Call the Ontario Energy Board's retailer contact line at 1.886.288.7824. Or visit www.oeb.gov.on.ca

Depending on the arrangements you have made, bills and services may be provided by your electricity supplier or your local distribution utility. The Ontario Energy Board sets out three billing options. If your local utility is supplying your electricity under Standard Supply Service, it will bill you. If you choose to sign with a retailer, the contract you sign will set out the type of billing service. A retailer may offer to bill you for all your electricity charges directly or it may contract the local utility to continue to bill you on the retailer's behalf for the contract price and term you signed with a retailer.

• What price is the retailer charging for electricity?
• When does the contract start? What is the term of the contract? How long does it run?
• Can the contract be cancelled? Are there penalties for cancelling?
• What are the renewal terms?
• How long has the retailer been in business?
• Does the retailer have a license from the OEB?

In every case, read the contract carefully. The Electricity Retailers Code of Conduct requires that a retailer fully inform a potential customer of all conditions and allow a customer the time to fully understand the contract. The Electricity Retailer Code of Conduct is posted on the Internet at the OEB's Electricity Retailer Page at www.oeb.gov.on.ca