Hydro rates continu to go up

News Release

TORONTO, Oct. 17, 2011- Today the Ontario Energy Board (OEB) released Regulated Price Plan (RPP) electricity commodity prices that take effect November 1, 2011.

Time-of-use (TOU) prices are changing as follows:

On-peak (from 7 a.m. to 11 a.m. and from 5 p.m. to 7 p.m. weekdays) = 10.8 ¢/kWh (+0.1 cents)

Mid-peak (from 11 a.m. to 5 p.m. weekdays) = 9.2 ¢/kWh (+0.3 cents)

Off-peak (from 7 p.m. to 7 a.m. weekdays and all day on weekends and holidays) = 6.2 ¢/kWh (+0.3 cents)

The price change for RPP consumers on TOU pricing represents an increase of approximately $2.11 on the "Electricity" line, or about 1.8% on the total bill, for a residential consumer with a typical consumption pattern who uses 800 kWh per month.
As of August 31, 2011, there were about 3.1 million (66%) residential and small business customers on TOU billing. The remaining customers are expected to be switched to TOU from tiered prices by mid 2012.
Tiered prices are changing as follows:
Price for consumption up to the tier threshold = 7.1 ¢/kWh (+0.3 cents)
Price for consumption above the tier threshold = 8.3 ¢/kWh (+0.4 cents)
Starting November 1, the threshold below which the lower tiered price applies will change from 600 kWh to 1,000 kWh per month for residential consumers. For non-residential RPP consumers, the threshold stays at 750 kWh throughout the year.