Ontario hydro hike sought
TORONTO, ONTARIO - The price of electricity from Ontario Power GenerationÂ’s nuclear stations and major hydroelectric plants would go up 14 per cent - or $3.50 on the average homeownerÂ’s monthly bill - if regulators approve.
The rate increase would boil down to a 3 per cent hike for most homeowners, however, because the nuclear and hydroelectric plants account for just 60 per cent of OPGÂ’s electricity output into the provincial grid.
The utility announced that it is seeking permission for the increase, its first since 2005, from the Ontario Energy Board for the period from April 1, 2008 to Dec. 31, 2009.
The board will convene hearings to debate the application, which Ontario Power Generation will argue is necessary to help the Crown-owned company maintain and expands its nuclear and hydroelectric power generating facilities in the coming years without going deep into debt.
Sources said the rate increase would amount to about 4 per cent on the bills for major hydro users, who have long complained OntarioÂ’s electricity prices are too high and risk making the province a less competitive home for industry.
Related News
The City of Vancouver is hosting an ABB FIA Formula E World Championship race next year, organizers have announced
VANCOUVER - The City of Vancouver is hosting an ABB FIA Formula E World Championship race next year, organizers have announced.
The all-electric race is being held in the city's False Creek neighbourhood over the 2022 July long weekend, according to promoter OSS Group Inc.
Earlier this year, Vancouver city council voted unanimously in support of a multi-day Formula E event that would include a conference on climate change and sustainability.
"Formula E is a win on so many levels, from being a net-zero event that supports sustainable transportation to being a huge boost for our hard-hit tourism sector, our residents and our…