Electricity price jump hits homeowners and businesses

Toronto, November 6 (CINEWS): This year homeowners can expect to pay about $31 more per month. The 2010 average was $100 but brace yourself for the provincial forecast suggests hydro bills could rise to $190 per month in a little more than six years.smart-meter
The hike means the on-peak price of electricity has jumped 77 per cent since Smart Meters became common five years ago. In November 2010, the price was 9.9 cents/kWh.
In addition to the rate hike, the hours for mid-peak and on-peak prices also change to winter “time-of-use” hours. From Nov. 1 to April 30, weekdays between 11 a.m. and 5 p.m. are considered mid-peak hours. Weekdays between 7 a.m. and 11 a.m. and from 5 p.m. to 7 p.m. are on-peak hours, which saw the highest rate increase.
Consumers won’t get any happier in the new year, either. Their bills will go up again on Jan. 1, when the 10 per cent discount known as the Clean Energy Benefit will end.
The privatization of Hydro One is not expected to help matters either and will probably be a cause for rates to jump tremendously in the years to come.

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