CORNWALL – Some good news Cornwall Electric customers can bank on.
Electricity rates for the utility will be staying the same for the next year.
The company announced Monday that two long-term wholesale electricity supply contracts with Hydro Quebec have allowed them to keep the same rate from July until June 30, 2016.
Customers will still receive the 10 per cent Ontario Clean Energy Benefit on their bill. That provincial program ends in 2016.
“Like all other utilities in Ontario, the wholesale cost of electricity is passed through to customers. The long term contracts with Hydro Quebec provide security of supply and rate stability to December 2019,” said Regional Manager Mike Pescod. “Cornwall Electric rates continue to compare favorably to surrounding electrical utilities”.
Cornwall Electric has 24,300 customers in Cornwall, South Glengarry, South Stormont, and the Ontario portion of Akwesasne.
Meanwhile, Hydro One customers in the United Counties are facing new rate hikes as the Ontario Energy Board has approved new time-of-use rates.
Those rates will push up the average Hydro One bill on a home using 800 kilowatt hours per month about 4.6 per cent or $5.71 a month.
The Hydro One rates take effect May 1.