TORONTO—Small business and residential electricity customers in Ontario will see their bills inch up slightly starting next month, according to the Ontario Energy Board (OEB).
Prices will increase by about 2.4 per cent across the board starting May 1—equivalent to approximately $2.83 per month for the average household in the province.
The price hike coincides with summer time-of-use hours, according to the OEB, which run from May 1 to Oct. 31.
Prices for off-peak hours, running from 7 p.m. to 7 a.m. on weekdays and all day weekends and holidays, increases 0.3 cents to 7.5 cents per kilowatt hour (kWh).
Mid-peak hours, weekdays from 7 to 11 a.m. and 5 to 7 p.m., are worth 11.2 cents per kWh, and on-peak hours—weekdays from 11 a.m. to 5 p.m.—will see prices hit 13.5 cents per kWh.
The OEB reviews electricity prices twice a year.