Ontario hydro rates will drop slightly for winter months
Posted Oct 18, 2010 01:32:58 PM.
This article is more than 5 years old.
Most electricity rates in Ontario are going down marginally for the winter months, except for mid-peak prices which will rise slightly.
The Ontario Energy Board has lowered the off-peak electricity price from 5.3 cents per kilowatt hour to 5.1 cents starting November 1.
Premier Dalton McGuinty admitted last month that there was not enough of a price difference between the peak and off-peak rates to encourage people to change consumers’ behaviour.
The mid-peak rate will rise from 8.0 to 8.1 cents, while the on-peak rate will remain at 9.9 cents per kilowatt hour for people paying time-of-use prices.
People on tied pricing will see prices drop by 0.1 cents per kilowatt hour to 6.4 cents for the first 1,000 kwh used each month, and 7.4 cents for every kwh above that threshold.
More than four million Ontario homes now have so-called smart-meters which changes prices for electricity depending on the time of day the power is used.
The energy board sets regulated prices every six months for people who purchase power from their local utilities.
