Electricity rates up 2.9% on average monthly bill: OEB

Increased costs from renewable, nuclear and hydroelectric sources.

May 1, 2013

TORONTO — Electricity prices are increasing slightly for Ontario small businesses and households, says the Ontario Energy Board.

New rates now in effect will mean an increase of about $3.63 or 2.9% a month for the average customer with a typical consumption pattern.

The board sets electricity prices twice each year, in May and November, based on updated cost estimates.

It says estimates for the coming year include more generation and increased costs from renewable energy, nuclear and hydroelectric sources. However, the board says some of the estimated increase in the supply costs is offset by reduced payments to coal-fired plants.

Time-of-use pricing, which is used by the majority of Ontarians, is increased by about half a cent per kilowatt hour in each of the time categories, from peak to off-peak times.

Specifically, that means people using electricity off-peak – on weekends, holidays and overnight – now pay 6.7 cents per kWh, an increase of 0.4 cents.

Morning and evening use on weekdays – mid-peak – now costs 10.4 cents per kWh, an increase of 0.5 cents, and on-peak use from 11 a.m. to 5 p.m. weekdays costs 12.4 cents per kWh, an increase of 0.6 cents.

© 2013 The Canadian Press