Friday, October 18, 2013

Ontario Energy Board Raises Electricity Prices, November 1st 2013

More higher cost electricity for Ontarians. The Ontario Energy Board has announced price hikes for consumers and small businesses starting November 1st, 2013. All times are going up 0.5 cents per kilowatt hour. Peak prices will now be 12.9 cents (weekdays 7 am to 11 am and 5pm to 7 pm), mid-peak will be 10.9 cents (weekdays 11 am to 5 pm) and off-peak 7.2 cents all other times (including all day forweekday holidays). That's a large 7.46% increase for off-peak, compared to September's inflation rate for Canada of 1.1%. Also note that these prices will all have the full 13% HST applied to them.

I'm not sure what the demarcation is between small and large businesses, but obviously for small businesses, high electricity costs compared to neighbouring jurisdictions is a competitive disadvantage.

Note the PDF of the release is here.

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