Electricity rates going up in Ontario May 1

Keeping the lights on will cost more for Ontarians next month, following a rate hike approved by regulators on Wednesday.

Electricity is going up by 0.6 cents per kilowatt hour during peak hours to 13.5 cents, starting May 1, according to the Ontario Energy Board.

The rates for off-peak and mid-peak hours will both go up by 0.3 cents, to 7.5 cents and 11.2 cents per kilowatt hour, respectively.

• Electricity prices: Calculate what you'll pay in 2020
• Enbridge's $400 per year gas hike approved by regulator
• High power rates blamed for deterring investment

The new rates will affect homes and small businesses.

During the summer, Ontario's peak hours for power consumption are on weekdays from 11 a.m. to 5 p.m.Mid-peak runs from 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m. on weekdays. All other times, including weekends and holidays are considered off-peak.

The average Ontario house will pay roughly $2.83 more per month, a hike of 2.4 per cent, for 800 kWh of electricity according to the Ontario Energy Board.

The OEB reviews electricity prices twice per year.

The board approved a slightly larger hike in electricity rates in November and in March approved a 40 per cent jump for Enbridge gas customers.