Niagara-on-the-Lake Hydro Provides 11 Recommendations on Reducing the Cost of Electricity
NIAGARA-ON-THE-LAKE, ON--(Marketwired - December 09, 2015) - The Board of Niagara-on-the-Lake Hydro would like to invite and challenge the Minister of Energy to a public debate on the historical, present and future plans on how to get the cost of electricity down and more manageable for the average consumer. Discussions and input from all interested parties are welcome.
The recently released Report of the Ontario Auditor General (AG report) has highlighted significant mismanagement of the electricity industry in Ontario that has substantially increased the cost of electricity to our customers. To reduce the current and future cost of electricity, it is clear that immediate and drastic actions are required.
As a local electricity distribution company, Niagara-on-the-Lake Hydro deals directly with the electricity consumer and sees the challenges the high prices are causing. Niagara-on-the-Lake Hydro therefore recommends the following immediate actions to assist our customers.
The cost of electricity for the Ontario consumer has risen by around 50% over the last ten years. Electricity costs are largely made up of generation, transmission and distribution costs. Transmission and distribution costs (for most distribution companies though Hydro One is a notable exception) have largely gone up at around the rate of inflation which has been around 18% (over 10 years). The cost of generation has risen by over 110% during this time. More details as to why the generation costs have risen so high can be found in the Auditor General's report.
ABOUT NIAGARA-ON-THE-LAKE HYDRO
Niagara-on-the-Lake Hydro distributes power to over 8,800 customers in the Town of Niagara-on-the-Lake. We are committed to operating as a sustainable high-performance, customer-driven business and to providing the highest standard in safety, service and reliability. NOTL Hydro was the 2014 ENERGY STAR® Utility of the Year (Regional Category) in Canada. The Town of Niagara-on-the-Lake is the 100% shareholder of the corporation.
Fact Sheet:
Increase in Cost of Electricity
Niagara-on-the-Lake Residential Customer (800 kwh) - Monthly Cost | ||||||||||||
January 1, 2006 | ₵/kwh |
January 1, 2016 | $/kwh |
$ Change |
% Change |
|||||||
Electricity | $40.40 | 5.05 | $86.13 | 10.77 | $45.73 | 113% | ||||||
Delivery Charge | $34.37 | $37.26 | $2.89 | 8% | ||||||||
Regulatory Charges | $5.54 | $5.23 | -$.31 | -6% | ||||||||
Debt Retirement Charge | $5.60 | - | -$5.6 | -100% | ||||||||
Total before HST | $85.91 | 10.74 | $128.62 | 16.08 | $42.71 | 50% | ||||||
Comparable Canadian City Electricity Costs
Total electricity cost before taxes (1,000 kwh) - April 1, 2015 | ||
Montreal, QC | $ | 71.91 |
Winnipeg, MB | $ | 81.09 |
Vancouver, BC | $ | 102.90 |
Edmonton, AB | $ | 115.47 |
St. John's. NL | $ | 115.53 |
Calgary, AB | $ | 116.55 |
Moncton, NB | $ | 122.98 |
Niagara-on-the-Lake, ON | $ | 135.18 |
Toronto, ON | $ | 143.07 |
Regina, SK | $ | 143.72 |
Ottawa, ON | $ | 148.62 |
Charlottetown, PE | $ | 156.17 |
Halifax, NS | $ | 160.30 |
Source: Hydro Quebec "Comparison of electricity prices 2015"
Contact Information:
FOR MORE INFORMATION PLEASE CONTACT:
Tim Curtis
President
Niagara-on-the-Lake Hydro Inc.
905-537-4512
Office Phone - 905-468-4235