Changes to Toronto Hydro

The Ontario Energy Board (OEB) has finalized its decision on Toronto Hydro’s five-year rates (2015 to 2019). The approved rate increase will secure over $2 billion in capital funding to help improve reliability, safeguard against extreme weather events and meet growing demands.   I have included a residential bill insert and an infographic outlining the investments in the grid.Toronto Hydro is investing in the city’s electricity grid as aging infrastructure is the leading cause of power outages in Toronto (accountable for 40% of all outages). These investments will help improve performance, decrease the number of outages, and reduce restoration times. A reliable grid powers and attracts businesses, economic development, and helps create jobs.Rate changes appear on customer bills effective March 1, 2016. The effect of the new residential rate amounts to an annual average monthly increase of $2.44 or 1.7% increase each year between 2015 and 2019 for customers who use an average of 800 kilowatt-hours (kWhs) per month. The impact on customer bills in 2016 is higher due to the timing of approval of rates and the need to cover the costs of time-sensitive system investments already completed or in progress – since there was no increase to Toronto Hydro rates in 2015, the 2016 rates include increases for both years. Customers are encouraged to take advantage of the many conservation programs available to reduce the impact on their bills, and this information will be included in the next bill cycle.