Did you know that if you pay for electricity and are in a lower-income home, you may qualify for a reduction on your electricity bill. The OESP will reduce the cost of your household electricity by applying a monthly credit directly to your bill. The credit amount will depend on how many people live in your home and your combined household income.
Applications are simple and can be done online by clicking here: https://ontarioelectricitysupport.ca/. In order to apply, you must be the account holder for the electricity bill AND live at the service address for the account. The reduction is generally $45 per month for low income individuals.
You can apply any time in the year, and applications take about 6 to 8 weeks to process. The credit is applied to your utility bill fairly quickly after your application has been approved. Eligible customers will receive on-bill credits for two years regardless of when a customer applies and their credits begin.
The following chart outlines how much you may be entitled to receive based on your income after taxes. The income of people residing with you for 6 month or more per year must be taken into consideration. To find out what your after-tax income is for the purposes of OESP eligibility, multiply your net income (line 236 on your Notice of Assessment) by 87.82%.
According to the ODSP chart below, potentially about 300,000 owners and renters can make use of the subsidy; of course for some hydro is included in their rent in which case they couldn’t as the credit is meant to be directly applied to your utility bill. In a perfect world, if each household saved 12 x $45 = $540 per year x 300,000 there would be $160,200,000 in savings for low income individuals and families.