All About The New Ontario Electricity Support Program

All About The New Ontario Electricity Support Program

All About The New Ontario Electricity Support Program

The Ontario Energy Board has begun a new program, called the Ontario Electricity Support Program that helps qualifying families pay for their monthly energy costs. The monthly benefit ranges from $30 to $50 per month and the amount received depends on a household’s income and number of family members. Overall, this is a fairly decent subsidy that equates to saving $360 to $600 a year.

As always, thank you for reading this article and you can find more about the Friendly Financial Coach, Toronto’s only Financial Literacy Coach, here. You may also be interested in reading about other ways to cut back on your energy bill.

How To Qualify For The Ontario Electricity Support Program

As previously mentioned, benefits received are determined by a household’s income level and by the number of individuals living there. The following chart demonstrates the varying level of qualifications. It’s important to note that all income figures are after tax and since the program is so new that these rates may change.

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In addition, the Ontario Energy Board also states, “If your home is electrically heated, or you rely on medical devices requiring a lot of power, OESP offers a higher level of assistance. First Nations and Métis will also qualify for a higher level of assistance.” The program considers the following two medical devices as energy intense; i) Oxygen Concentrator ii) Mechanical Ventilators. Details about the additional benefits for the First Nations have also not been fully announced.

The increased credit for energy intense and medical devices are listed below;

Ontario Electricity Support Program Save and Conserve Energy Financial Policy Changes Political Parties Ontario Tuition Rebate Personal Finance Inflation business cycle Save Water Conservation Lifelong Learning Plan Toronto International Film Festival Tickets Contest Win Home Buyers' Plan Welcome Policy Online Chequing Accounts Best Chequing Accounts Coaching Style Ontario Registered Pension Plan (ORPP) RRSPs Overdraft Holiday Debt Seniors' Chequing Account Consumer Protection Act The Best Senior's Bank Account Friendly Financial Coach Financial Literacy Children child education independence Student and Youth Free Magazines  Bank Accounts university RESP child Tax Benefit Budgeting Help Financial Freedom Education Financial Registered Education Savings Plan parents parenting credit debt finances Best Senior bank account Interest Rates Garage Sale

How To Apply To the Ontario Electricity Support Program

Program submissions are made online at OntarioElectricitySupport.ca. Documents required will be the names, birthdates and Social Insurance Numbers (SIN) of all household numbers. You will also be required to provide a copy of your energy bill.

The income used to confirm household income will be generated from the previous year’s income taxes. However, if household income has changed, then there are government offices to provide the applicable information.

If eligible, the processing time will be approximately 6-8 weeks and you will automatically see the credit on your electricity bill beginning January 1st, 2016. This benefit will then continue for two years until a re-submittal needs to be made.

As always, thanks for reading this article on the new Ontario Electricity Support Program. If you know anyone that this program will benefit then please help by sharing it. If you have any questions you can contact me at info@ffcoach.ca or at 647-289-0012. Also, don’t forget to sign up to our awesome Newsletter below!

 

 

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