Thursday
Apr142016

Electricity prices set to go up for small business on May 1

The price of electricity is one of the most consistent concerns we hear from our Chamber members.  Many fit into the time-of-use system.  The Board of Directors has submitted a policy resolution to the Ontario Chamber of Commerce AGM for consideration.  If approved, the resolution will ask the provincial government to complete an apples-to-apples comparison between Ontario and neighbouring jurisdictions as well as a more defined breakdown of the price of electricity.   You can read the submission here.

If you would like to share your electricity price story and its impact on your business or if you have an idea for a solution email: sandra@peterboroughchamber.ca

Media Release today on increased electricity prices starting May 1: 

The Ontario Energy Board (OEB) announced new time-of-use (TOU) electricity prices for households and small businesses starting May 1. The price is increasing by approximately $3.13 per month on the "Electricity" line, and about 2.5% on the total bill, for a household that consumes 750 kWh per month. 

Ontarians consumed less electricity than expected over the recent milder winter. As a result of lower usage, Regulated Price Plan (RPP) prices did not recover the full cost of serving RPP customers. One of the main reasons prices are increasing in May is to recover this shortfall.

New summer TOU hours will also take effect May 1. This chart outlines TOU prices and the times they are effective as of May 1, 2016:  

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