Ontario
Consumers To Receive a Credit On Energy Bills
Typical Home To Receive $60 Credit On Electricity Bill
QUEEN'S PARK, Oct. 20 /CNW/ - Ontario consumers will be receiving a one-time credit on their upcoming electricity bill. That means a family in a detached home can expect a credit of approximately $60 before the end of the year, announced Minister of Energy Donna Cansfield.
"We made a commitment to return any surplus to eligible ratepayers and that is exactly what we are doing," Cansfield said. "Due to the moderate weather in 2004, the actual cost of power was lower than the cost paid by consumers. We are returning this surplus to the ratepayers of Ontario."
Between April 1, 2004, and March 31, 2005, $495 million was accumulated in the Electricity Consumer Price Protection Fund. This was a result of the difference between the province's interim pricing plan and the actual cost of power, which was lower due to the unusually mild weather conditions during this period. The Ministry of Energy set the prices in 2004 at 4.7 cents for the first 750-kilowatt hours used, and 5.5 cents for anything over this amount, based on predicted supply and demand under normal weather conditions.
"The McGuinty government is committed to providing Ontarians with a responsible plan for electricity pricing that is consistent with the true cost of generating electricity. We are putting electricity pricing back on a responsible and sustainable footing," Cansfield said. "We took the politics out of electricity pricing by restoring the independence of the Ontario Energy Board to ensure that prices to consumers are fair, competitive, stable and predictable."
