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As an
electricity consumer in Ontario, you can choose to remain on the Regulated
Price Plan or purchase your power through an electricity retailer. What
works best for you depends on your preference - similar to choosing
between a variable or fixed rate mortgage. If you
purchase your power through E.L.K., the prices on the "Electricity"
line of your bill are set by the Ontario Energy Board every six months.
At any time, the prices may be different than those offered by a
retailer. Consumers who are comfortable with periodic changes in prices
may choose to continue to purchase their electricity through their utility
under the Regulated Price Plan. A fixed price
contract with an electricity retailer can let you know what you'll pay for
your electricity supply from month-to-month or year-to-year. Key points: ·
Electricity retailers are independent businesses and are not
part of E.L.K. ·
You must be given a written copy of the contract within 40 days
of the date you signed it. Read your contract carefully. Once
you've signed and reaffirmed, you're bound by the provisions in the contract. ·
Once you get your copy of the contract, you have a 10-day
"cooling off" period under the Consumer Protection Act if
you choose to cancel your contract with the retailer. ·
You must reaffirm your decision with the retailer. You may
actively contact the retailer to reaffirm or the retailer may contact
you. This step happens between the 10th and 60th day after receiving
your copy of the contract. If you choose not to reaffirm, the contract
ends on the 61st day after the date a copy of the contract was delivered to
you. ·
If you initiate the contract with a retailer, the cooling off
period and reaffirmation provisions do not apply. ·
Electricity contracts cannot be automatically renewed.
Near the end of the term of your contract, the retailer may offer to renew
your contract or to sign you to a new agreement. If you don't wish to
renew your contract or enter into a new contract, you don't need to respond
to the retailer's offer. ·
Take time to fully understand your options - don't feel rushed
or pressured. Still need
more information? Visit the
Ontario Energy Board website. |
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172 Forest Avenue, Essex, Ontario N8M 3E4
Tel: 519-776-5291 Fax: 519-776-5640 |
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