Slight hike in electricity prices offset by more off-peak hours

Electricity rates will rise slightly next month, but will be offset by more off-peak hours on weeknights.

Starting May 1, prices will go up by 0.8 cents a kilowatt hour for all time periods and the lowest off-peak rate – 5.1 cents a kilowatt hour – will start at 7 p.m. instead of 9 p.m.

For customers on the tiered system, prices will jump 0.4 cents to 6.8 cents for the first 600 kilowatt hours each month and 0.5 cents to 7.9 cents beyond that.

The Ontario Energy Board estimates bills will increase by less than $4 for the average household on time-of-use pricing and by $6.12 for people on the tiered plan.

The energy board, the province’s electricity and natural gas regulator, sets hydro rates every May and November.

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