Electricity Rates Set to Rise - May 1

Thursday, 19 April 2012 07:35

Just in time for the summer season, the Ontario Energy Board says electricity rates are set to rise May 1st. For those on smart meters, the energy board says that translates to an increase of about $4 a month, or a 3.3 per cent increase. If you're not on a smart meter you should expect an increase of about $5.80, or about 5.1 per cent more on your monthly bill. Prices are going up due to supply costs as coal generation declines and is replaced with natural gas, nuclear and renewable sources, which are more expensive to produce.

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