Hydro rates going up May 1

Ontario smart meter. (Dave Abel/QMI Agency files)

Ontario smart meter. (Dave Abel/QMI Agency files)

Antonella Artuso, QMI Agency

, Last Updated: 7:57 PM ET

TORONTO - Ontario electricity prices are on their way up again.

The increase in the cost of electricity comes on top of a hike in natural gas prices after a long, hard winter.

As of May 1, there will be an increase in time-of-use prices that will boost the average hydro customer's monthly cost by $2.83, or $33.96 annually.

The Ontario Energy Board (OEB) says the jolt upwards in prices includes the arrival of renewable or "green" electricity generation over the next 12 months.

Hydro prices switch over to summer hours on May 1 as well.

That means a customer will get the cheapest price for electricity -- 7.5 cents kW/h, up 0.3 cents -- in the overnight weekday hours of 7 p.m. to 7 a.m. and on all weekends and holidays.

The cost to use electricity on weekdays between 7-11 a.m. and 5-7 p.m. will be 11.2 cents kW/h, also an increase of 0.3 cents.


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