Hydro One was given the go-ahead to raise the price of electricity to residences across the province of Ontario. On May 1 and Jan. 1, 2011, the hikes will go into effect.
Do you think the Greater Toronto Area is too expensive to live in? It’s going to cost more to live in a residence in the city as Hydro One was given approval on Friday to raise its distribution rates on May 1 and on Jan. 1, 2011, according to the Toronto Star.
As of next year, the cost of electricity will rise 11.6 percent; 8 percent of that will begin in May, reports CP24. Hydro One estimates the increase will add $4.25 to your monthly bill as of May and another $1.30 in January.
680 News reports that Hydro One says it needs to increase the rates to maintain, repair and expand existing systems, which presently covers 75 percent of the province.
In March, Digital Journal reported that the government of Ontario introduced a new green tax that is also expected to add another $4 annually to your hydroelectric bills.