Ontario power rates to rise on higher nuclear generation costs, conservation spending

Electricity rates for Ontarians will increase this Saturday but will be partly offset by a higher provincial rebate.

Electricity rates for Ontarians will increase by approximately 29 per cent starting Saturday, but the impact will be blunted by a large increase in provincial subsidies.

The cost of supplying electricity in the province has surged because of higher-than-expected nuclear generation costs as well as increased spending on electricity conservation programs, the Ontario Energy Board stated in a report published Oct. 17.

Offsetting the rate hikes, the Ontario Electricity Rebate, which appears as a credit on power bills, will rise to 23.5 per cent of pretax charges. (Previously it was 13.1 per cent.) That rebate will reduce the typical residential customer’s monthly bill by