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Hydro rates for households, small businesses to increase Nov. 1: Ontario Energy Board

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 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 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.

READ MORE: Ontario announces stricter consumer protections that do ‘not apply’ to 325K hydro customers

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.

READ MORE: Ontario hydro companies serving 240,000 customers voluntarily ban winter disconnections

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.

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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.