The cost of your monthly electrical bills will be going up May 1st but that’s not the end of it. Customers can expect multiple increases every year until 2018. At that point you’ll be paying 45 percent more than you did in 2013.
The increases were announced three years ago. You’ll see your bills increase twice a year until 2018. The May 1st increase will add about $3.13 a month on the average bill.
Time-of-use electricity prices will jump half-a-cent to 18 cents a kilowatt hour for peak periods, from 11 a.m. to 5 p.m. weekdays, starting May 1.
The rates are up slightly less for mid-peak periods — between 7 and 11 a.m. and 5 to 7 p.m. — at 13.2 cents a kwh.
Off peak rates — in effect from 7 p.m. to 7 a.m. and all day weekends and holidays — are up less than half a cent to 7.7 cents a kwh.
In 2013, the average bill was $125 (that’s just power consumption, it does not include water, taxes and delivery charges) Once you factor in those charges the monthly bill was more in the $250 a month range.
Next year the average power consumption per household will be $170 and by Spring of 2018, that will increase to $178. Again, when factoring in the other charges that bill raises to over $300 a month. In 2019, the rates are expected to decrease but only slightly, to $177 a month (power only) and by 2030 the average power bill will be pegged at $205 a month.
Consumers are getting anxious about the mounting utility costs. The PUC in Sault Ste. Marie has issued more late notices than ever before, many complaining that their monthly bills are equal to a average mortgage payment.
Premier Kathleen Wynne said the new on-peak/off-peak rate differential should encourage conservation which ultimately helps keep bills down.