Ontario to Lower the Cost of Hydro for the Next 45 Days: Report

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Photo by Fré Sonneveld on Unsplash

As all non-essential businesses have been ordered to close in Ontario, more and more people find themselves working from home. Which means that they’re currently paying daytime hydro rates to keep up with their daily routines.

Well, according to an unnamed government source speaking to The Globe and Mail, Premier Ford will change that later today by temporarily suspending time-of-use hydro rates for the next 45 days.

READ: Toronto Residents Granted 60-Day Grace Period to Pay Utility Bills

The Globe claims that as of today, Tuesday, March 24, “rates will be lowered to current off-peak overnight and weekend charges of 10.1 cents per kilowatt-hour.” Currently, and until April 30, on-peak rates are 20.8 cents and mid-peak rates run at 14.4 cents. On May 1, new summertime rates will be introduced. The Ontario Energy Board sets prices twice a year – on May 1 and November 1.

According to the Globe’s source, the estimated cost of the switch will be $162 million. Ford’s announcement is also expected to include an extension until July 31 on the current ban of electricity disconnection for both households and small businesses.

READ: Every Essential Business That Can Remain Open in Ontario During COVID-19

The cut in time-of-use rates is due to the number of people now working from home, those who have lost their jobs (and are at home all day) and those who are self-isolating.

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