Get ready for another electricity bill jolt.
The Ontario Energy Board (OEB) has approved a Toronto Hydro plan to increase distribution rates retroactive to May 2015 and going forward to the year 2019.
The actual amount has yet to be calculated by Toronto Hydro, but the OEB had earlier notified customers that the utility had been seeking increases of $4.05 a month for an average residential customer in 2015, $2.97 in 2016, $3.29 in 2017, $5.47 in 2018 and $2.56 in 2019.
“We need time to understand the impacts of (the OEB decision), review and determine the effect it’s going to have on our long-term plan for the infrastructure and ultimately our distribution rates for our customers,” Toronto Hydro spokesperson Brian Buchan said Tuesday. (more...)
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