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.