By Capable Group · Updated October 21, 2026 · Prices and rebate rules checked against the Ontario Energy Board and Home Renovation Savings program pages
From November 1, 2026, Ontario’s regulated electricity prices drop about 7%: time-of-use on-peak goes from 20.3¢ to 18.9¢ per kWh and off-peak from 9.8¢ to 9.1¢. At the same time, the Ontario Electricity Rebate on your bill falls from 23.5% to 15.7%. For a typical home, the smaller rebate outweighs the cheaper prices, so many bills will go up slightly, not down.
Below: the full new price table, the real math for a typical bill, which price plan fits your home, and the energy rebates with deadlines on November 30, 2026 that most homeowners don’t know about.
| Key dates for Ontario homeowners this fall | |
|---|---|
| November 1, 2026 | New electricity prices and winter hours start. The Ontario Electricity Rebate falls to 15.7%. The federal National Heat Pump Rebate window opens: eligible heat pumps installed from this date can be claimed when the portal launches in early 2027, and the eligibility rules are due the same day. |
| November 30, 2026 | Ontario’s attic insulation rebate: work must be finished. Assessment-path rebates: follow-up assessment must be booked. |
| December 31, 2026 | Assessment-path rebates: follow-up assessment must be completed (or within 180 days of the first one, whichever comes first). |
| Early 2027 | Federal heat pump rebate portal opens. |
In this guide
- New prices from November 1, 2026
- The Ontario Electricity Rebate drops to 15.7%
- Will my bill go up? The math
- TOU, ULO or Tiered: which plan fits
- Energy rebates and the November 30 deadlines
- Renovating this winter?
- What it means for your project: basement, legal suite, addition, underpinning, whole home
- Quick answers
New Ontario electricity prices from November 1, 2026
On a small screen, swipe the tables sideways to see every column.
| Price plan and period | Until Oct 31, 2026 | From Nov 1, 2026 | Change |
|---|---|---|---|
| Time-of-use (TOU), winter hours | |||
| Off-peak: weekdays 7 p.m.–7 a.m., weekends and holidays all day | 9.8¢ | 9.1¢ | −7.1% |
| Mid-peak: weekdays 11 a.m.–5 p.m. | 15.7¢ | 14.6¢ | −7.0% |
| On-peak: weekdays 7–11 a.m. and 5–7 p.m. | 20.3¢ | 18.9¢ | −6.9% |
| Ultra-low overnight (ULO) | |||
| Ultra-low overnight: every day 11 p.m.–7 a.m. | 3.9¢ | 3.7¢ | −5.1% |
| Weekend off-peak: weekends and holidays 7 a.m.–11 p.m. | 9.8¢ | 9.1¢ | −7.1% |
| Mid-peak: weekdays 7 a.m.–4 p.m. and 9–11 p.m. | 15.7¢ | 14.6¢ | −7.0% |
| On-peak: weekdays 4–9 p.m. | 39.1¢ | 37.7¢ | −3.6% |
| Tiered | |||
| Tier 1: first 1,000 kWh a month (winter) | 12.0¢ | 11.2¢ | −6.7% |
| Tier 2: every kWh above that | 14.2¢ | 13.2¢ | −7.0% |
| Ontario Electricity Rebate | 23.5% | 15.7% | −7.8 points |
Prices per kWh, set by the Ontario Energy Board (OEB) for households on the Regulated Price Plan. Sources: OEB price releases of October 17, 2025 and October 16, 2026; OEB time-of-use hours. These prices cover the electricity itself. Delivery and regulatory charges are set separately and differ by utility (Toronto Hydro, Alectra, Hydro One and others).
Two seasonal changes also start on November 1, as they do every year: time-of-use switches to winter hours (the expensive on-peak blocks move to the morning and early evening), and the Tiered plan’s lower-price block grows from 600 kWh to 1,000 kWh a month until April 30.
The catch: the Ontario Electricity Rebate drops to 15.7%
The Ontario Electricity Rebate (OER) is the provincial credit printed on your bill as a percentage of the bill before tax. From November 1 it falls from 23.5% to 15.7%. For a typical household using 700 kWh a month, the OEB says the credit drops from about $36 a month to about $23.
The OEB’s explanation is simple: electricity prices are lower than a year ago, and that “allows for a reduction in the OER.” The rebate is adjusted together with prices each year, and over the past five years it has moved between 13.1% and 23.5%.
Will my hydro bill go up or down? The math for a typical home
Here’s what happens to a typical 700 kWh-a-month household on time-of-use, using the OEB’s own figures:
| Line on the bill | Monthly change | How we got it |
|---|---|---|
| Electricity (cheaper prices) | about −$6 | 700 kWh at old vs new TOU prices, assuming 64% off-peak, 18% mid-peak, 18% on-peak use: $89.26 → $82.98 |
| Ontario Electricity Rebate (smaller credit) | about +$13 | OEB typical credit: $36 → $23 |
| Net change, before HST | about +$6 a month | Roughly $75 a year. The OEB’s rebate figures point to the same result: about $117 → $123 after the rebate |
Our estimate, not an OEB figure. Your delivery charges, usage and timing will move the number; the OEB notes that individual bill impacts vary with usage and utility.
Three things decide whether your bill rises more or less than this:
- How much you use. The rebate is a percentage of the whole bill, so the bigger your bill, the more the smaller rebate costs you in dollars. Homes heated with electricity (baseboards, heat pumps, electrically heated basement suites) feel this most, and they use the most power in exactly these winter months.
- When you use it. On time-of-use, the same kWh costs 9.1¢ at 8 p.m. and 18.9¢ at 6 p.m.
- Your utility. Delivery charges are set separately for each utility, so a Toronto Hydro bill and a Hydro One bill change differently.
You can’t change the price or the rebate. You can change your price plan, when you use power, and how much your house needs. The rest of this guide covers all three, cheapest first.
1. Check you’re on the right price plan (free, 10 minutes)
| Plan | Best for | Watch out for |
|---|---|---|
| Time-of-use (default) | Most households, especially if you can run laundry and the dishwasher in the evening or on weekends | On-peak (weekday mornings and 5–7 p.m.) costs about twice off-peak |
| Ultra-low overnight | Homes that can move big loads to 11 p.m.–7 a.m.: EV charging, timed laundry, a hot water tank on a timer | Weekday 4–9 p.m. costs 37.7¢, about double TOU on-peak. If you cook dinner and heat with electricity in those hours, ULO can cost you more |
| Tiered | Homes that can’t shift usage (someone home all day, electric heat running at peak times) and stay near 1,000 kWh in winter | Above 1,000 kWh a month, every kWh costs 13.2¢ |
Run your last few bills through the OEB bill calculator. To switch, ask your utility for an election form. You can switch at any time; the change starts at the beginning of your next billing period. The OEB is clear that a switch doesn’t guarantee savings, so compare with your real usage.
2. Move what can wait (free)
On time-of-use, anything you run after 7 p.m. on a weekday or any time on a weekend costs 9.1¢ instead of 18.9¢, less than half. That’s the dishwasher, laundry, the dryer, and charging a car. On ULO, the same loads after 11 p.m. cost 3.7¢.
The limit of this advice: heat can’t wait. Bedrooms need to be warm at 7 a.m., a basement suite needs heat all day, and nobody schedules a January cold snap. If you heat with electricity, the house itself decides most of your winter bill.
3. Make the house need less heat
Heat leaves a house through the attic, the walls, the windows, air leaks and the basement. Natural Resources Canada estimates that basements alone can account for about 25% of a home’s total heat loss, and older GTA houses often have basement walls with little or no insulation behind the finishes.
Insulation and air sealing cut the heat you buy every hour of every winter, whatever the price plan. They help gas-heated homes too: a lower gas bill instead of a lower hydro bill, and a more comfortable house either way. For the details on basements, see our guides to basement insulation and the best basement insulation type.
Ontario rebates that pay part of it, and the November 30 deadlines
The Home Renovation Savings program, run by Save on Energy and Enbridge Gas, pays part of the cost of energy upgrades for homeowners. It’s open whether you heat with electricity, Enbridge natural gas, oil, propane or wood, but some amounts depend on your heating fuel.
Without an energy assessment
| Upgrade | Rebate | Key rule |
|---|---|---|
| Attic insulation | Up to $1,250 (flat roof or cathedral ceiling: up to $750) | Program-qualified contractor; rebate can’t exceed 50% of your cost. Work must be completed by November 30, 2026 |
| Cold-climate air-source heat pump | Up to $7,500 if you heat with electricity, oil, propane or wood · up to $2,000 if you heat with Enbridge natural gas | Pre-approval is mandatory. Installations done before approval don’t qualify |
| Ground-source heat pump | Up to $12,000 (non-gas homes) · $3,000 (gas homes) | Pre-approval mandatory |
| Smart thermostat · appliances | Up to $125 · up to $200 | Amounts shown differently on different program pages; confirm when you apply |
With a home energy assessment (two or more upgrades)
| Upgrade | Rebate |
|---|---|
| Home energy assessments (before and after) | $600 back |
| Attic insulation | $900–$1,500, depending on starting and final R-value (up to R-50) |
| Exterior wall insulation | $1,200–$3,600 |
| Basement wall insulation | $900 (R-10 to R-22 added) or $1,500 (over R-22), covering 100% of the wall area |
| Basement slab · foundation header · exposed floor | $500 · $300 · $300 |
| Windows and doors (ENERGY STAR) | $100 per rough opening |
| Air sealing | $200–$250 |
| Heat pump water heater | $500 |
| Three or more qualifying upgrades | Extra $500 |
The deadlines that matter right now (from the program’s current terms and conditions):
- Attic-only rebate: the insulation must be installed by November 30, 2026.
- Assessment path: the first assessment must happen before any work starts. The follow-up assessment must be booked by November 30, 2026 and completed within 180 days of the first one or by December 31, 2026, whichever comes first.
- Any stream can end early if funding runs out. No successor program has been announced yet.
A common trap: a homeowner finishes the basement, insulates every wall, and only then hears about the rebate. Without an assessment before the walls were opened, that work doesn’t qualify. If a basement or whole-home renovation is on your list, the assessment goes on the calendar before demolition, not after.
Planning a heat pump? New on October 21: the federal government confirmed that its National Heat Pump Rebate ($2,000, or up to $10,000 for low- to median-income households) covers eligible heat pumps installed from November 1, 2026. The portal opens in early 2027, and the eligibility criteria and list of eligible heat pumps are due on November 1. Ontario’s heat pump rebate has no calendar deadline but needs pre-approval before installation. Our heat pump rebate guide tracks what’s confirmed for both. For tax credits and other programs, see Ontario renovation rebates and tax credits.
Lower income? The Ontario Electricity Support Program (OESP) gives a monthly bill credit of $35–$75, and $52–$113 for homes heated with electricity, based on household size and after-tax income. Apply at OESP.ca.
Renovating this winter? Insulate while the walls are open
The cheapest moment to insulate a wall, seal air leaks or plan new heating is when the wall is already open. Once the drywall and finishes are up, each of these means opening the room again. That’s why insulation, air sealing and the heating plan belong in the drawings before construction starts, next to the layout and finishes, and why the energy assessment should be booked before demolition if you want the rebates.
We’re a GTA design-build renovation company with 25 years of experience, and full-home renovations are the core of our work. Every project starts with a free estimate visit, drawings and a 3D design at no charge, and a fixed, itemized quote in writing. If you’re planning a basement or whole-home renovation, read about our full-home renovation service in Toronto, or open “Get a Quote” on this page and tell us the city, the rooms involved and your timing. A renovation enquiry is not a rebate application: the program administrators decide eligibility.
What it means for your project
The same rule runs through every type of renovation: energy decisions are cheapest while the walls, ceilings and mechanical room are open, and several of the rebates above pay only if the paperwork starts before the work. Here’s where that shows up, project by project.
| Project | The energy decision to make before work starts | Rebate angle (check the rules) |
|---|---|---|
| Whole-home renovation | The whole envelope is in play: attic, walls, windows, air sealing and the heating system. Size heating for the finished, better-insulated house, not the old one. | Assessment path (two or more upgrades, extra $500 for three or more); heat pump rebates, Ontario and federal |
| Basement finishing | Insulate all foundation walls before framing and drywall. Basements can be about a quarter of a home’s heat loss. | Basement wall insulation $900–$1,500 with an assessment before demolition |
| Legal basement suite | A second household means more heating hours. Heating and ventilation for the suite go into the permit drawings, so decide the system then. See what a legal suite requires in Ontario. | Basement wall insulation; the federal heat pump rebate is limited to one per person, so an owner who uses it on a rental property can’t also claim it for their own home |
| Home addition | New rooms add heating and cooling load. Check whether the existing system can carry it, or whether a heat pump for the whole house makes sense now. | Heat pump rebates if the system changes; windows and doors with an assessment |
| Underpinning | Lowering the floor exposes the foundation walls and the slab, which is when insulating them costs the least. | Basement wall ($900–$1,500) and slab ($500) insulation with an assessment |
Rebate amounts from the Home Renovation Savings program pages and terms; federal rule from the federal backgrounder and program page, checked October 21, 2026. Eligibility is decided by the programs, not by your contractor.
Quick answers
Are Ontario electricity rates going down on November 1, 2026?
Yes. Regulated prices drop about 7%: time-of-use off-peak goes from 9.8¢ to 9.1¢, mid-peak from 15.7¢ to 14.6¢ and on-peak from 20.3¢ to 18.9¢ per kWh. But the Ontario Electricity Rebate also falls, so many bills won’t go down.
What is the Ontario Electricity Rebate from November 2026?
15.7%, down from 23.5%. For a typical home using 700 kWh a month, the OEB says the credit falls from about $36 to about $23 a month.
Will my hydro bill go up in November 2026?
For a typical 700 kWh home on time-of-use, our estimate is about $6 more a month before HST: roughly $6 saved on electricity, $13 less in rebate. Larger bills lose more rebate in dollars, so electrically heated homes may see a bigger increase.
What are the winter time-of-use hours in Ontario?
From November 1 to April 30: off-peak is weekdays 7 p.m.–7 a.m. and all day on weekends and holidays (9.1¢); mid-peak is weekdays 11 a.m.–5 p.m. (14.6¢); on-peak is weekdays 7–11 a.m. and 5–7 p.m. (18.9¢).
Should I switch to ultra-low overnight (ULO)?
Only if you can move large loads, like EV charging, to 11 p.m.–7 a.m. ULO’s weekday 4–9 p.m. price is 37.7¢, about double the TOU on-peak price. Compare plans with the OEB bill calculator before you switch.
When does the Home Renovation Savings program end?
The current terms set November 30, 2026 as the deadline to finish attic insulation under the attic-only rebate and to book the follow-up assessment on the assessment path, with that assessment done by December 31, 2026. Streams can close earlier if funding runs out.
Can gas-heated homes get the Home Renovation Savings rebates?
Yes, if you heat with Enbridge natural gas. Insulation, air sealing and window rebates are the same for gas and electric homes. The heat pump rebate is lower for gas-heated homes: up to $2,000 instead of up to $7,500.
Does the federal heat pump rebate cover installs before 2027?
Yes, from November 1, 2026. The federal program page says eligible households that install eligible heat pumps starting November 1, 2026 can apply when the portal opens in early 2027. The eligibility criteria and eligible heat pumps are due to be published on November 1.
Is there a rebate for basement insulation in Ontario?
Yes, through the assessment path of Home Renovation Savings: $900 or $1,500 depending on the R-value added, covering all basement walls. The first energy assessment must happen before work starts, and you need at least two qualifying upgrades.
Sources (checked October 21, 2026): Ontario Energy Board, price release, October 16, 2026; OEB, price release, October 17, 2025; OEB: electricity rates and time-of-use hours; OEB: choosing your price plan; OEB: Ontario Electricity Support Program; CP24, October 19, 2026; Home Renovation Savings: rebates with an assessment; without an assessment; heat pumps; program terms and conditions; Natural Resources Canada: Keeping the Heat In, basement insulation; Government of Canada: National Heat Pump Rebate (updated October 21, 2026); federal backgrounder, October 8, 2026.
General information, not financial advice. Program rules decide eligibility; check the official pages before you rely on a number.
About the team
Yan Margulis
Founder, Capable Group · Toronto & GTA
Design-build team for whole homes, additions, kitchens, bathrooms, basements and legal suites.
Planning a renovation with energy upgrades?
Tell us your city, rooms involved and planned timing. We’ll review the renovation scope and reply with the next step.
This is a renovation enquiry, not a rebate application.
