About $53 raise of electricity rates since November 1st

(Global Korean Post) Electricity rates are going up again in Ontario starting Nov. 1.

The Ontario Energy Board says the peak price for electricity — between 7 a.m. and 11 a.m. and from 5 p.m. to 7 p.m. — will rise by 1.4 cents to 17.5 cents a kilowatt hour.

The mid-peak price from 11 a.m. to 5 p.m. will rise by 0.6 cents to 12.8 cents a kw/h.

And the off-peak rate from 7 p.m. to 7 a.m. and all day weekends and holidays jumps 0.3 cents to 8.3 cents a kwh, less than half the on-peak price.

 

The energy board says the increases will add about $4.42 to the electricity line on the average monthly electricity bill for a household that uses about 800 kwh a month.  It says about 40 per cent of the rate increase is because of increased costs from Ontario Power Generation’s nuclear and hydro-electric generating stations

 

Ontario PC Energy Critic John Yakabuski expressed his frustration at the news of yet another unaffordable increase in electricity rates as a result of the failed energy policies of the Wynne Liberal Government.  

 

Yesterday, the Ontario Energy Board announced that hydro rates will increase as of November 1, 2015.  This means the average customer will pay approximately 53 dollars more each year for hydro – an 8.7% increase for on-peak rates.

 

“The Premier and Energy Minister will dismiss this increase as only a few dollars per month, but the cumulative effect of these rate increases means average Ontario families will struggle to pay their hydro bills,” stated Yakabuski.  “These increases are the result of the Liberal’s mismanagement of the electricity sector.  This Government needs to take responsibility for this huge burden on families.”

 

In May of this year, ratepayers already experienced an average increase of 68 dollars to their annual hydro bill.  Moreover, with the upcoming cancellation of the Clean Energy Benefit in January – which provides a 10% reduction on electricity bills – customers will once again see their rates increase.  

 

“By this Government’s own estimates, the average person’s hydro bill will continue to skyrocket upwards for the next decade,” Yakabuski added. “This is unacceptable when many Ontarians are currently being forced to choose between turning on the heat and buying food.”

 

Accodring to Ontario PC, Yakabuski concluded, “rates are skyrocketing because of the Government’s mishandling of the energy file. The Liberals need to realize that the electricity system is there to serve the people of Ontario.  They need to start taking into consideration customers’ ability to pay for these severe increases.” 

ⓒ Global Korean Post