Ontarians To Pay More For Hydro

hydro tower image

CBJ – Hydro rates in the province of Ontario are about to take a drastic jump upwards as of May 1.

The Ontario Energy Board (OEB) has announced new time-of-use pricing that ramps up up the peak rate to 16.1 cents kWh from 14 cents kWh.

In layman’s terms it will be more than twice as expensive to use electricity between 11am and 5pm on weekdays than at night or on weekends.

Based on consumption habits, a typical household should see a $6 or 4.6% increase in their monthly hydro bill.

Ontario Progressive Conservative MPP John Yakabuski said the figure used by the OEB to estimate the impact on bills is just an average, and many people will see a bigger increase on top of years of rising prices.

Ontario’s hydro rate is the second highest in Canada, behind PEI, and more than most regions in the United States.

@CanBizJournal

Recommended
Cirque du Soleil logoJoe Oliver - putting on budget shoes