BUSINESS

Ontario Electricity Rate Hike Lands Nov. 1

10/16/2015 08:27 EDT | Updated 10/16/2016 05:12 EDT
Frank Whitney via Getty Images
Power lines and Towers at twilight
TORONTO — Electricity rates are going up again in Ontario starting Nov. 1.

The Ontario Energy Board says the peak price for electricity — between 7 a.m. and 11 a.m. and from 5 p.m. to 7 p.m. — will rise by 1.4 cents to 17.5 cents a kilowatt hour.

The mid-peak price from 11 a.m. to 5 p.m. will rise by 0.6 cents to 12.8 cents a kw/h.

And the off-peak rate from 7 p.m. to 7 a.m. and all day weekends and holidays jumps 0.3 cents to 8.3 cents a kwh, less than half the on-peak price.

The energy board says the increases will add about $4.42 to the electricity line on the average monthly electricity bill for a household that uses about 800 kwh a month.

It says about 40 per cent of the rate increase is because of increased costs from Ontario Power Generation's nuclear and hydro-electric generating stations.

The board sets electricity prices every May and December and changes the hours for peak and off-peak pricing to reflect the shorter daylight periods in winter.