Starting Nov. 1, off-peak prices for people on time-of-use meters will fall from 6.5 cents per kilowatt hour to 6.3 cents, and the mid-peak price drops from 10 cents to 9.9 cents per kwh.
However, the peak electricity price will increase from 11.7 cents per kwh to 11.8 cents.
People on regulated pricing, not time-of-use, will also see a slight drop in electricity rates.
The Ontario Energy Board says the change for most consumers on time-of-use pricing will be a decrease of about $1.02 on the electricity line of their hydro bill.
The board says the main reason for the decrease in prices is that the actual cost of electricity for consumers from April through September was less than the forecast cost used to set prices for that period.