The Ontario Energy Board has approved changes to your distribution rates as of May 1st. A typical residential customer can expect an increase of approximately 5% ($7). The changes include an inflationary increase in distribution rates, along with updates to transmission rates and settlement of commodity variance accounts.
For a residential customer, the increase is due to a combination of:
- 20% - A 4.65% distribution inflationary increase (rate determined by the OEB)
- 50% - Settlement of commodity variances (Customers ultimately pay for the true cost of the power consumed)
- 30% - Increased Hydro One transmission costs