TORONTO, Ont. – Electricity prices in the province are dropping slightly — expect for the highest demand hours — for the winter months.
Beginning Nov. 1, off-peak prices for consumers on time-of-use meters will drop from 6.5 cents per kilowatt hour to 6.3 cents. The mid-peak price falls from 10 cents to 9.9 cents per kwh.
But peak electricity price will rise from 11.7 cents per kwh to 11.8 cents.
Consumers on regulated pricing will also see a small drop in electricity rates.
The Ontario Energy Board said the change for most consumers on time-of-use meters will be a drop of about $1.02 on the electricity line of their hydro bill.
The reason behind the decrease in prices is that the actual cost of electricity for consumers from April to September was less than the anticipated cost used to set prices for that period.
Most electricity rates fall for winter, but price for peak usage times increases
680News staff and The Canadian Press
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