NO CHANGE IN HYDRO RATES FOR FIRST TIME IN NEARLY DECADE

Oct 19, 2016

By Bob Komsic

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Residential hydro customers will not see their rates change November 1 for the first time since 2008.

powerlines

 (Lars Hagberg / The Canadian Press)
The Ontario Energy Board sets rates on time-of-use pricing every May and November, when it also changes the hours for peak and off-peak rates.
The provincial regulator says it’s holding the line for about five-million households and small business customers meaning they’ll keep paying the same rates they’ve had since last May until May 2017.
The announcement comes the same day the government has passed legislation to remove the provincial portion of the HST from electricity bills effective January 1, 2017.
The government estimates this will save average residential customers $11-a-month or approximately $130-a-year but cost upwards of $1-billion-a-year.
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