By Devin Roherty [1]
BELLEVILLE – Hastings-Prince Edward MPP Todd Smith says he’s concerned about what the long-term effects of Hydro One [2]‘s recent rate increases will be.
Higher hydro rates could mean fixed-income families having to decide whether to put food on the table or power in their homes, Smith told QNet News:
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Hydro One increased its rates as of Nov. 1. This isn’t the first time in recent years that the people of Ontario have faced rising electricity costs. Hydro One rates have gone up 77 per cent since 2010. On Nov. 1, the off-peak rate went up [4] to 8.3 cents per kilowatt hour. The mid-peak rate went up to 12.8 cents per kWh, and the peak rate increased to 17.5 cents/kWh. In November 2010, before the time-of-day rates were introduced, the cost was 9.9 cents/kWh.
Another area of concern is how the rate increases might affect small businesses and Ontario’s economy as a whole, Smith said.
Small businesses are being hit extremely hard by the rising cost of electricity, said Smith, who is the Ontario Conservative party’s critic for Hydro One. Many businesses “have seen their hydro bill go from $800 a month four years ago to $1,800 a month today,” he said.
“It’s making Ontario a very uncompetitive place to attract new businesses.”
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Hydro rates are set to go up again on Jan. 1. As well, the Clean Energy Benefit that appears on hydro bills will no longer be in place, which could see rates jumping as much as 10 per cent.