You might notice a spike in your utility bills this month. Hydro rates in Ontario are going up starting June 1 as the province switches to its " COVID-19 Recovery Rate." These prices will be higher than what we've seen over the past few months, however, prices will still remain at a fixed rate.
Back in March, it was announced that the price of hydro would drop down to 10.1 cents per kilowatt hour at all times of the day.
Since everyone has been staying at home, fixed hydro rates were introduced to eliminate on-peak, off-peak, and mid-peak electricity prices. This was done in efforts to minimize hydro bills during this unusual time.
However, Hydro One has now announced that prices will be going up as of June 1 as the province works towards the reopening and recovery of Ontario.
Now, hydro will cost 12.8 cents per kilowatt hour at all times. This is a 2.7 cent increase in what Ontarians have been paying over the past few months. "Since March 24, 2020, we have invested just over $175 million to deliver emergency rate relief to residential, farm and small business electricity consumers by suspending time-of-use (TOU) electricity pricing," says an Ontario news release.
Today, the Ontario government announced a new fixed electricity price of 12.8 cents per kWh for Time-of-Use custome… https://t.co/kWpIwTviGV— Hydro One (@Hydro One)1590860163.0
"This investment was made to protect the people of Ontario from a marked increase in electricity rates as they did their part by staying home to prevent the further spread of the virus."On their website, Hydro One shows the summer prices will remain at 12.8 cents per kilowatt hour at all times until October 31.
The @Ongov is introducing a new fixed electricity price of 12.8 ¢/kWh for time-of-use customers. Starting June 1, 2… https://t.co/OOTPojgjbL— Ontario Energy Board (@Ontario Energy Board)1590858808.0
Back in April, hydro rates were anticipated to rise again, although premier Doug Ford expressed his disapproval.These fixed rates will allow homeowners to use electricity anytime throughout the day without worrying about any surged pricing.
"By introducing this new fixed rate, consumers will have greater flexibility to use electricity when they need it without paying on-peak and mid-peak prices," the press release states.
So while hydro prices are going up this month, you can still do your laundry at any time during the day without having to worry about racking up your bill.