Hydro rates set to go up on Nov. 1, Ontario Energy Board says
A hydro tower is seen in this file photo. THE CANADIAN PRESS/Darren Calabrese
TORONTO -- The Ontario Energy Board says hydro rates for households and small businesses will be going up starting next week.
The agency says rates are scheduled to increased by about $1.99 or 1.8 per cent for a typical residential customer who uses 700 kilowatt hours per month.
The provincial government said in March it would continue to subsidize hydro rates and hold any increases to the rate of inflation.
The OEB says the new rates, which the board says are "in line" with inflation, will take effect Nov. 1 and could be noticed on bills within a few weeks of that date.
Prices are increasing partly due to government legislation aimed at reflecting the actual cost of supply on bills, and partly due to the refurbishment of nuclear facilities.
Changes to the look of hydro bills will also take effect next week, with a new line displaying the level of provincial rebates for customers.
This report was first published by The Canadian Press on Oct. 22.