From the IESO web site, the first estimate of the electricity global adjustment for January and it is rather low at 3.63 cents per kilowatt hour. This is lower than the final 5.00 last year, however the first estimate in 2013 for January was similar at 3.77.
Since the global adjustment is in some sense a relationship between the amount of total power used and the amount of expensive green energy (sun and solar) produced, January isn't often a high month for the global adjustment. It is dark and cold, so electricity is higher from light and space heaters and the like, with not a lot of solar produced and the wind produced is smaller compared to the total power consumed compared to some other months.
November 2013 was the highest month ever for the global adjustment at 8.47 cents per kilowatt hour. Last year the mean January temperature in Hamilton (which isn't a bad proxy for the populous Southern Ontario area) was -3 Celsius versus the usual -6C and since this January has been much colder than last year, I wouldn't be surprised for the final January global adjustment number to stay around the first estimate.