Electricity prices to remain unchanged this winter: Ontario Energy Board
Joshua Freeman, CP24.com
Published Wednesday, October 19, 2016 1:57PM EDT
Last Updated Wednesday, October 19, 2016 3:17PM EDT
For the first time in a decade, electricity prices in Ontario will remain unchanged ahead of winter.
The Ontario Energy Board said Wednesday that the monthly electricity cost for those using smart meters will remain unchanged on November 1.
The prices are set by the OEB twice a year, in May and November.
The move to leave prices unchanged means that the price will hold for the first time in at least 10 years.
The monthly cost of electricity for the average Ontario household using around 800 kwH monthly has gone up by about $30.76 a month Since May 2012. That amount doesn’t include the 10 per cent increase that households saw when the Ontario Clean Energy Benefit was eliminated in January.
Electricity prices have been a highly charged issue in the province of late, with Premier Kathleen Wynne facing growing discontent by Ontarians who have been saddled with ever-increasing energy costs.
Last month Energy Minister Glenn Thibeault said the province would cancel plans to sign contracts for up to 1,000 megawatts of power from renewable energy sources. Thibeault said the move would save about $2.45 a month from being added to hydro bills for homeowners and small businesses.
In another move aimed at stemming the anger over hydro costs, the province recently announced that it would remove the provincial portion of the HST from hydro bills.
However the opposition parties have noted that the move simply balances out the cancellation of the Ontario Clean Energy Benefit.
- With files from CTV Reporter Paul Bliss and The Canadian Press; Infographic by Courtney Greenberg