The cost of electricity for most households and business in Ontario is going up this Saturday. The Ontario Energy Board announced their new electricity prices earlier this month and Karen Cormier Senior Advisor Stakeholder Relations with the OEB explains the changes.

[sc_embed_player fileurl=”http://moosefm.com/cfbks/news/wp-content/uploads/2014/10/cormierpeakchange2.mp3″]

The price for consumers is increasing by approximately $2.03 per month on the “Electricity” line, and about 1.7% on the total bill, for a household with a typical consumption pattern and using 800 kilowatt hours per month. The Ontario Energy Board reviews electricity prices twice each year, November 1st and May 1st, based on updated cost estimates and is intended to help smooth changes in prices over time.