What? Another Hydro Increase??

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electricity prices

Have you worked the last Hydro increase into your budget? You know the one that came into effect May 1st? Well you might have to find more in your already-empty-pockets; you may have a year to find the extra cash you’ll need to keep the lights on.

The Ontario Power Generation has an application that could increase your bills again, this on top of the already planned increases scheduled until 2018.

The Ontario Power Generation says it needs more cash to help pay for the $12.8 billion refurbishment of the Darlington Nuclear Station, meaning an increase of yet another 69 percent over the next five years or from $1.05 a month to $5.25 a month by 2022.

The Ontario Energy Board has ordered a public hearing into OPG’s rate increase application.

A decision is not expected until mid-2017, meanwhile another increase from Ontario Hydro is scheduled for November 2016.

As part of the Ontario Government’s energy policy, hydro customers have seen a steady increase outpacing the cost of inflation since 2002. The Ontario government continues to say Hydro bills are coming down.

hydro-rates

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