If you are fed up with the cost of your electricity bill, some relief appears to be on the way.
Starting up in May, the Ontario Energy Board says that some of the electricity bill reductions promised by the government will happen. For a household with average consumption of 750 kilowatt hours per month, the bills will come in at about 127 bucks.
The OEB says that one of the things that enables the government to make this approximately 9 percent reduction is the removal of a charge that funds a low-income support program. Instead it will be funded from the tax base.
Legislation is still expected however, by the Liberal government to further reduce bills to about 17 percent for ratepayers.
Most of the reductions are coming from taking $2.5 billion a year from a global adjustment charge which is scheduled to be paid later on with interest.
The global adjustment is the charge consumers pay for above-market rates for power producers, which the government says ensures a power supply that is reliable.
For now, the OEB says it is reducing the global adjustment by $1 billion dollars and will further reduce the charge in the future.
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