News Releases
New Electricity Price Changes Effective April 1, 2005
March 11, 2005 - London, Ontario
Today, the Ontario Energy Board announced changes to electricity prices for Ontario residential, low-volume and designated consumers effective April 1, 2005.
As of April 1, 2005, consumers will be billed 5 cents per kilowatt-hour on the first 750 kWh per month and 5.8 cents per kWh on the remainder. An average residential customer using 750 kWh per month will see an increase of $2.25 per month or 6.4% on the electricity component.
In addition, starting November 1, 2005 the amount of electricity billed at the lower price will change twice a year for residential customers. The price threshold will be 1,000 kWh per month during a winter season (November 1st to April 30th) and 600 kWh during a summer season (May 1st to October 31st). This pricing structure will allow consumers to use more electricity at the lower price in the winter for electric heating, lighting and other uses. For non-residential (designated) consumers who are eligible for the new plan, the price threshold will remain at 750 kWh for the entire year.
In accordance with OEB and government requirements, London Hydro has also made application to the Ontario Energy Board for an increase in distribution charges, which upon approval will be effective April 1, 2005. The OEB decision is expected at any time. The increase in distribution charges for an average residential consumer in London will amount to approximately two dollars per month. The increase will be used to defray the costs of implementing conservation and demand side management programs. These programs will assist consumers in better management of their electricity consumption and as a result may lower their overall costs.
For more information contact:
Nancy Hutton(519) 661-5800 ext 5797
Cell (519) 857-6809
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