Skip to content

Electricity rates set to rise

North Bay Hydro consumers are expectant of a $100 jolt to their wallets this year as the price of wholesale energy is set to rise in July.

North Bay Hydro consumers are expectant of a $100 jolt to their wallets this year as the price of wholesale energy is set to rise in July. The majority of the utility's 23,000 customers will likely see an increase in the nine per cent range, set by Ontario Power Generation, jump by 11.3 per cent...last month. Depending on usuage, some consumers may realize an impact as high as 15 per cent while low-use customers may only experience a six per cent rise. OPG announced the rate increase in March. The increase translates into 0.7 cents per kilowatt hour. Revenues from the increase go to the Ontario Electricity Financial Corporation, responsible for managing and paying down the debt and liabilities of the former Ontario Hydro.