Just in time for the summer air conditioning season, the Ontario Energy Board says electricity rates will increase on May 1.
Prices are rising due to changing supply costs as coal generation declines and is replaced with natural gas, nuclear and renewable sourcesThose on smart meters will see rises in the peak (0.9 cents to 11.7 cents a kilowatt hour), mid-peak (0.8 cents to 10 cents), and off-peak prices (0.3 cents to 6.5 cents). The energy board says that this will translate to an increase of about $3.99, or about 3.3 per cent a month for a typical residential consumer.
Residential customers not on smart meters will see an increase of approximately 5.1 per cent on a typical monthly bill.
The price changes only apply to consumers who buy electricity directly from their local utility.
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