CORNWALL – If you get your electricity from Cornwall Electric, there will be no rate increase for the upcoming year.
The utility announced today (Tuesday) rates will remain unchanged for July 2016 through the end of the June 2017.
It’s the second year in a row of no rate increase.
Cornwall Electric credits two long-term electricity supply contracts with Hydro Quebec for the stability in rates – the wholesale cost of power makes up about 80 per cent of your bill.
The current contracts run through December 2019.
As for the lines and wires, Cornwall Electric says it will spend $4 million on the distribution system this year.
Cornwall Electric covers 24,300 customers in Cornwall, South Glengarry, South Stormont and Cornwall Island.