FACT: Ontario residents being charged "on time of use rates" will incur a 3.8 percent increase effective May 1st and those households using more than 800 kilowatt hours of power will see a $3.96 increase per month. These new power rates were recently announced by the Ontario Energy Board (O.E.B).
Each of the three daily "time of use" price periods will increase 0.8 cents a kilowatt hour, equating to a peak of 10.7 cents a kilowatt hour, a mid-peak of 8.9 a kilowatt hour and an off-peak rate of 5.9 cents a kilowatt hour. The only good news is effective May 1st, the peak rate period ends two hours earlier at 7PM vs 9PM in the winter. Giving residents 2 extra hours of power usage at a more affordable rate.
"I expect we'll see increases", says Julie Girvan, Consultant for Consumers Association of Canada. These new pricing parameters are intended to encourage consumers to change their behavior, switching more power usage to off peak hours, thus, we would require fewer generators to run at short brief periods when requesting electricity during the peak demand period.
Here's a silver lining!
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