Expect higher hydro bills in 2016, even with debt charge eliminated

electricity pricesCTV News
TORONTO — Ontario residents can brace for another hike in electricity bills on Jan. 1. The increase comes on the heels of a jump just two months ago, and hydro bills will rise again after the Liberals introduce a cap-and-trade plan in the spring.

Under the Liberal government, electricity prices in Ontario soared from a flat 4.7 cents a kilowatt hour in 2004, to the Nov. 1, 2015 rate of 17.5 cents a kwh at peak times, increases that total almost 375 per cent. There are various changes taking effect in the new year that will have an impact on electricity bills.

Energy sector analyst Tom Adams calls it “a multi-dimensional, inter-temporal shell game” of power rates. There are few details known about the Liberal’s cap-and-trade plan to fight climate change, but it is expected to push up prices for many consumer goods, including electricity.

“In terms of cap and trade, the cost of doing nothing is huge,” Premier Kathleen Wynne said in a year-end interview with The Canadian Press. “We don’t have a choice as a globe.”

The Liberals have started the process of selling up to 60 per cent of Hydro One, which the opposition parties warn will also drive up electricity rates, but the government says rates will still be set by the Ontario Energy Board. “There’s no doubt about it, that we think the sale is going to have a negative impact on the electricity bill,” said Progressive Conservative energy critic John Yakabuski. Read article

12 thoughts on “Expect higher hydro bills in 2016, even with debt charge eliminated

  1. Ecofiscal Commission Canada

    Commissioners include:
    Stewart Elgie, A founder of Sierra Legal and now Ecojustice Canada
    Paul Lanoie, INET Expert and CIGI-INET grant
    Nancy Olewiler, INET Expert and CIGI-INET grant

    Advisory Board includes:
    Paul Martin, INET Expert
    Michael Harcourt, Appointed to NRTEE and Chair-CEO QUEST Canada

    http://www.ecofiscal.ca/the-commission/the-people-behind-the-commission

    Commission advocates a carbon tax and/or cap-and-trade for Ontario/Canada

    • ‘International Open Letter Calls For Moratorium On New Coal Mines’, Nov.27, 2015

      Also published in the “New Science” and the “Guardian”, U.K.

      Signatories include:
      James Hansen
      Hans Joachim Schellnhuber, Club of Rome
      David Suzuki, Canada
      Peter Victor, Club of Rome and Prof. at York U.
      William Becker, Colorado State U./NEE

      And others

      http://www.nonewcoalmines.org.au/international_open_letter

      Oil and now coal to be shut down.

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