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Electricity rates to skyrocket in Ontario
Thursday, April 15, 2010 | 1:17 PM ET
CBC News
Domestic electricity costs in Ontario will rise by an average of eight per cent.
The Ontario Energy Board approved the increase on Thursday for homes that don’t have the so-called “smart meters.”
Homes that do have the meters — which record time-of-day usage — will be hit with more modest increases of 5.8 per cent.
The distribution rate increase takes effect on May 1.
More increases are on the way as well when the province’s harmonized sales tax takes effect on July 1.
The company says it needs the extra money to maintain and repair existing equipment as well as expand the system.
Hydro One’s distribution system covers about three-quarters of the province.
At Queen’s Park on Thursday, the Progressive Conservatives said consumers are looking at a $300-a-year hike to their hydro bills because of all the fees and taxes included in the government’s energy plans.
Tory energy critic John Yakabuski said fees such as $4 per year conservation cost, the average monthly electricity bill increase and the 13 per cent HST will add hundreds of dollars to people’s bills.
The figure could even double to more than $600 when all of the government’s green energy subsidies are finally rolled out, he said.
Energy Minister Brad Duguid says the price of electricity is going up everywhere and argues that some increases are warranted as the province moves toward greener, cleaner power.