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The Global Adjustment (previously the Provincial Benefit) rate is set and adjusted to support Ontario's generating capacity. Its value may be positive or negative depending fluctuation of prices in the spot market.
The rate is set to reflect the difference between spot market price and:
- The regulated rate paid to Ontario Power Generation's baseload generating stations;
- Payment made to suppliers that have been awarded contracts through the Ontario Power Authority. These include new gas-fired facilities, renewable facilities (like wind farms) and demand response programs; and
- Contracted rates paid to Non-Utility Generators.
Who is affected by the Global Adjustment?
This adjustment applies to business customers who pay the spot market price and customers who have signed a contract with a licensed electricity retailer (see contract details). It appears as a separate line on the bill. For customers who pay the Regulated Price Plan (i.e., Time of Use), it is factored into the rate set by the Ontario Energy Board, and does not appear as a separate line item.
Why does Global Adjustment vary from month to month?
The Global Adjustment has increased and decreased in response to changes in the spot market prices. For example, a combination of low demand and good availability of generation will result in a low spot market price, and high costs of contracted and other regulated generation will increase the spot market prices.
For more information about the Provincial Benefit / Global Adjustment, please contact the Ontario Energy Board (http://www.ontarioenergyboard.ca/OEB/Contact Us).