Time-of-use (TOU) hydro rates for residential and small business consumers, including those of the Fort Frances Power Corp., are going up as of Nov. 1, the Ontario Energy Board (OEB) reported Monday.
In a press release, the OEB said the TOU prices are changing as follows:
•On-peak (weekdays from 7-11 a.m. and from 5-7 p.m.) will be going up 0.1 cents, from 10.7 cents per kilowatt hour to 10.8 cents/kWh;
•Mid-peak (weekdays from 11 a.m.-5 p.m.) will be going up 0.3 cents, from 8.9 cents/kWh to 9.2 cents/kWh; and
•Off-peak (weekdays from 7 p.m.-7 a.m. and all day on weekends and holidays) will be going up 0.3 cents, from 5.9 cents/kWh to 6.2 cents/kWh.
According to the OEB, the price change for Regulated Price Plan (RPP) consumers on TOU pricing represents an increase of roughly $2.11 on the “Electricity” line, or about 1.8 percent on the total bill, for a residential consumer with a typical consumption pattern of 800 kWh per month.
The RPP prices are reviewed semi-annually, and are reflected on the “Electricity” line of residential and small business consumer bills for those who purchase their power directly from their local utility.
Although the “Electricity” line on the bill has increased, a comparison of November, 2010 and November, 2011 shows overall the total bill has fallen as a result of the introduction of the Ontario Clean Energy Benefit.
An average sample bill comparison for RPP consumers using 800 kWh per month is available on the OEB website.
The OEB also said RPP prices (TOU) are changing because the forecasted cost of supply is changing. The main factors are increased nuclear and renewable generation coming online during the forecast period.
This includes refurbished units at the Bruce Nuclear Generating Station, along with more wind generation.
RPP prices are based on a 12-month forecast and are designed to provide stable and predictable electricity pricing, as well as to ensure the price that residential and small business consumers pay recovers the payments made to generators that supply the electricity they consume.
The OEB regulates the province’s electricity and natural gas sectors in the public interest.
It envisions a viable and efficient-energy sector, with informed consumers served by responsive regulatory processes that are effective, fair, and transparent.