Hydro rates set to rise
Your hydro bill is on the way up.
The Ontario Energy Board announced new prices that come into effect on November 1st, and will apply to most households and small businesses.
Off-peak hours for weekdays between 7pm and 7am and all day weekends and holidays, the price will hike 0.5 cents to 7.2 cents per kilowatt hour.
Mid-peak, which is weekdays between 11am and 5pm, the price will jump to 10.9 cents per kilowatt hour, which is up 0.5 cents.
And on-peak, which is between 7-11am and 5-7pm weekdays will also go up 0.5 cents to 12.9 cents per kilowatt hour.
The price change will be about 4 dollars for the average home, or about 3% on the total monthly bill for a home that uses 800 kWh per month.
According to their release: "The Ontario Energy Board reviews electricity prices twice each year based on updated cost estimates. Estimates for the coming year include more generation from sources including renewables along with a higher market price for natural gas."