TORONTO – Ontario hydro bills are headed up, up, up. A new Long-Term Energy Plan shows that the average monthly residential bill of $125 will rise to $178 within five years a 42% hike.
Hydro bills are expected to dip slightly in 2019 to $177 a month, and then rise again until 2022 when they’ll hit $193 a month. A second decrease in prices is forecast for 2023-24 and then the trend for prices is onward and upward for the foreseeable future. A decision to defer or cancel new nuclear construction, coupled with a few other initiatives to contain costs, shaved $13 off what the monthly bill would have been in 2018 if the Ontario government had implemented its last Long-Term Energy Plan.
The new plan will save hydro ratepayers $3,800 between 2013-2030, the government says. Premier Kathleen Wynne signalled that she’ll consider income testing for the Ontario Clean Energy Benefit, which currently takes 10% off the top of all hydro bills, and that could decrease some people’s bills past 2015. Read article