You can choose to purchase electricity from Toronto Hydro or an Electricity Retailer. It’s important to understand the options available and how you’ll be charged.
Electricity retailers overview
- Electricity retailers purchase large "blocks" of wholesale electricity from power generating companies, and then sell it to consumers
- You’ll pay the retailer a "fixed-price per kilowatt-hour", as mutually agreed upon in a contract offered by the retailer
- The price offered is typically guaranteed for a specified number of years, although in some cases the price could change during the contract period
- All retailers must be licensed and are listed on the Ontario Energy Board's (OEB) website
If you’re approached to sign or renew a gas or electricity contract for your business, it’s important to:
- Always make sure you get a business card and look at the salesperson's ID badge first. Energy company salespeople must wear an ID badge and give you a business card
- Don't share personal information (e.g. your gas or electricity bill) unless you’re sure you want to sign a contract
- Carefully read the contract, disclosure statement and price comparison provided by the salesperson
- Remember that the OEB doesn’t go door-to-door
Make sure you know what you’re agreeing to
We recommend taking the following steps before signing a contract to purchase electricity from companies other than Toronto Hydro:
- Ensure the retailer is licensed.
- Read the contract offer carefully.
- Find out what price the retailer is charging for electricity and if there are administration costs – look for them and other additional costs on top of the commodity charge to get the full picture of what you're signing up for.
- Discuss the contract termination process and any charges you might be responsible for as well as the contract renewal terms.
- Ask questions if anything is unclear.