Ontario Energy Board said new electricity prices to take effect Nov. 1, will add 1.7 per cent to average monthly bill
TORONTO—Ontario homeowners and small businesses can expect to see their electricity costs rise next month.
The Ontario Energy Board (OEB) says new electricity prices to take effect Nov. 1 will add 1.7 per cent—about $2—to the average monthly household bill.
Time-of-use customers will pay 7.7 cents a kilowatt hours for off-peak, 11.4 cents for mid-peak and 14 cents for on-peak usage.
Off-peak hours are all weekends and holidays as well as weekdays from 7 p.m. to 7 a.m.; mid-peak hours are weekdays from 11 a.m. to 5 p.m.; and peak hours are weekdays 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m.
The board says the forecast includes an estimate for increases in the cost of power from rate-regulated nuclear and hydroelectric power plants.
The OEB says most Ontario households use about two-thirds of their power during off-peak hours.