CORNWALL – The cost of electricity for Cornwall Electric customers is set to rise over 3 per cent this summer.
The utility announced the increase will be 3.31 per cent or an extra $4.82 per month for a residential customer who uses 1,000 kilowatt hours a month.
It’s the highest hike in the last five years. The increases were 1.67 per cent in 2023, 1.53 per cent in 2022, 2.3 per cent in 2021, 2.95 in 2020 and 2 per cent in 2019.
The utility notes most of a customer’s bill is the wholesale cost of electricity and Cornwall Electric holds a long term contract with Hydro Quebec for wholesale power.
“(I)t has and continues to allow Cornwall Electric rates to be one of the lowest in surrounding electrical utilities and will continue to provide rate stability of energy prices and reliable electricity well into the future for its customers,” said Jackie Baird, the utility’s regional manager, in a news release.
Cornwall Electric is part of FortisOntario and services nearly 26,000 customers in the City of Cornwall, Cornwall Island and parts of South Stormont and South Glengarry.