TORONTO -- Electricity prices are increasing slightly for Ontario households and small businesses.
The Ontario Energy Board says new rates taking effect Wednesday will mean an increase of about $3.63 a month for the average customer with a typical consumption pattern.
It says that works out to about 2.9 per cent of the total monthly bill.
The board sets electricity prices twice each year, in May and November, based on updated cost estimates.
It says estimates for the coming year include more generation and increased costs from renewable energy, nuclear and hydroelectric sources.
However, the board says some of the estimated increase in the supply costs is offset by reduced payments to coal-fired plants.
Time-of-use pricing, which is used by the majority of Ontarians, is increased by about half a cent per kilowatt hour in each of the time categories, from peak to off-peak times.
Specifically, that means people using electricity off-peak -- on weekends, holidays and overnight -- now pay 6.7 cents per kWh, an increase of 0.4 cents.
Morning and evening use on weekdays -- mid-peak -- now costs 10.4 cents per kWh, an increase of 0.5 cents, and on-peak use from 11 a.m. to 5 p.m. weekdays costs 12.4 cents per kWh, an increase of 0.6 cents.
The price changes do not affect consumers who have contracts with electricity retailers.
The board says residential consumers typically use about 64 per cent of their electricity during off-peak hours and about 18 per cent in mid-peak and on-peak periods.
