October 19, 2016 - 11:50 AM
TORONTO - For the first time in eight years, electricity rates in Ontario will not rise on Nov. 1.
The Ontario Energy Board sets rates for customers on time-of-use pricing every May and November, when it also changes the hours for peak and off-peak rates.
The board says it is holding the line on rates for about five million Ontario households and small business customers next month for the first time since 2008.
Electricity customers will continue paying the same rates they've had since last May until May 2017.
The off-peak rate of 8.7 cents a kilowatt hour is less than half the on-peak rate of 18 cents per kwh, and off-peak hours expand to 7:00 p.m. to 7:00 a.m. weekdays and all day weekends and holidays starting next month.
Mid-peak hours, which cost 13.2 cents a kwh, will run from 11:00 a.m. until 5:00 p.m. weekdays, while on-peak hours will be 7:00 a.m. to 11:00 a.m. and 5:00 p.m. to 7:00 p.m. weekdays.
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News from © The Canadian Press, 2016