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Hydro Costs On The Rise

Wednesday, 1 May 2013 11:22

You may notice an increase on your next hydro bill as the Ontario Energy Board introduce their new electricity prices today. The increase is approximately $3.63 on the "electricity" line or about 2.9% on the total monthly bill for households that typical consume around 800 kWh per month. The news costs as of May 1, 2013: Off-peak Weekdays 7pm-7am, all day weekends & holidays 6.7 cents per kWh (up 0.4 cents) Mid-peak Weekdays 7-11am and 5-7pm 10.4 cents per kWh (up 0.5 cents) Peak Weekdays 11am-5pm 12.4 cents per kWh (up 0.6 cents) According to the OEB, residential consumers use about 64% of their electricity during off-peak hours and roughly 18% during mid-peak and on-peak periods. The Ontario Energy Board set electricity prices twice a year based on updated cost estimates. In their release, they say the estimates for the coming year include more generation and increased costs from sources including renewables, nuclear and hydro-electric. The new prices, which take effect today, will apply to most households and small businesses in the province.

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