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Milder winter leads to higher electricity costs this summer

It appears the mild winter we experienced will come back to cost us.

The Ontario Energy Board says electricity prices for households and small businesses will increase 2.5 per cent starting May 1.

That works out to an increase of about $3.13 per month on bills for households consuming 750 kWh per month.

“Ontarians consumed less electricity than expected over the recent milder winter,” the OEB said in explaining the increase. “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.”

The following summer time-of-use rates are set to go into effect May 1:

time of use prices

The price changes only affect households and small businesses that buy their electricity from their local utility and have a smart meter. Customers who have signed a contract with an energy company will not pay these rates.