The Price of Hydro Slated to Increase in May
The cost of hydro is slated to rise on Sunday, May 1st by 2.5% on homes across the province.
That means your bill will now be increased by an average of $3.13. for households that consume an average of 750 kWh.
New time of use rates are being implemented because Ontarians used less electricity than expected during the winter.
- Prices for off-peak hours (weekdays: 7 p.m.-7 a.m.) will go up 0.4 cents to 8.7 cents/kWh.
- Prices for mid-peak hours (weekdays: 7-11 a.m. and 5-7 p.m.) will go up 0.4 cents to 13.2 cents/kWh.
- Prices for on-peak hours (weekdays: 11 a.m.-5 p.m.) will go up 0.5 cents to 18 cents/kWh.
Time of use prices are set to recover a forecast cost of power as well as account for differences that build up over time between forecast and actual costs of electricity.