Yesterday price hikes were announced by the Ontario Energy Board (OEB). You'll likely average about 7.28 cents/kWh after May 1st.
Yesterday the Ontario government issued a press release beginning “Ontario families can expect stable electricity bills this summer and fall due to the new Ontario Clean Energy Benefit (OCEB), which is taking 10 per cent off monthly bills for families, farms and small businesses.”
At the new price, which is about 7.2 cents/kWh ($72/MWh), this surplus report means that the plan, if all goes as expected, is to purchase 468,873 MWh for a price of approximately $33.75 million dollars, or about $1.3 million dollars a day - which we will need to dump in external markets, at whatever price we can get.
The market price so far in 2011 is slightly down from the same point in 2010 ($32.60/MWh, down from $33.75/MWh).
The Plan is to have too much supply 55% of the time - the plan is to have too much supply for over 50 continuous hours 4 separate times in the next 25 days.
The plan is to subsidize exports.
The OCEB tells you how much you'd be paying to subsidize New York, Michigan and Quebec directly, instead of through your taxes.
It's not a break for families.
It is another way of breaking families.
