New credit applies an 8% credit to all customer bills in Ontario
TORONTO, Sept. 13, 2016 /CNW/ - The Ontario government announced yesterday during the Throne Speech an 8% credit on electricity bills. The new credit, effective January 1, 2017, promotes greater affordability for electricity in Ontario as hydro costs continue to increase.
With severe weather and extreme temperatures, Toronto residents have seen their bills increase this year due to increased consumption. A credit applied directly to the bill will help Ontarians off-set rising costs, particularly our lower income or vulnerable customers.
Toronto Hydro supports this new initiative and will be ready to implement bill changes on January 1, 2017.
Further reducing electricity costs can be as simple as changing habits. Customers are encouraged to participate in conservation programs and shift usage to off-peak times (weekends and 7 p.m. to 7 a.m. weekdays). Check out Toronto Hydro's Bill Checklist for lowering costs.
In addition, there are numerous programs for eligible customers:
- Ontario Energy Support Program. Find out if you qualify for a monthly credit at torontohydro.com/oesp
- Low-Income Energy Assistance Program. Emergency financial assistance at torontohydro.com/leap
- Home Assistance Program. Free energy upgrades to qualified applicants at torontohydro.com/help
- Credit applied starting January 1, 2017 will be 8% of pretax bill
- The credit is expected to result in savings of about $130 a year for the typical Ontario household
- This summer has been extraordinarily hot in Toronto:
- We've had more than 28 high demand days in the summer of 2016 compared to nine high demand days in 2015
- We've experienced almost 40 days over 30 degrees since May
"This credit is a positive move for all Ontario families, especially those who are struggling to make ends meet. Additionally, our customers can take steps to reduce consumption to lower their bills, while there are a number of assistance programs for those who qualify."
- Anthony Haines, President and CEO, Toronto Hydro
ABOUT TORONTO HYDRO
Toronto Hydro owns and operates an electricity distribution system, which delivers electricity to approximately 758,000 customers located in the city of Toronto. It is the largest municipal electricity distribution company in Canada and distributes approximately 19% of the electricity consumed in the province of Ontario.
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SOURCE Toronto Hydro Corporation
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