News Release Ontario’s Long-Term Energy Plan Delivers Fairness, Affordability and ChoiceOctober 26, 2017 Province Continues to Focus on Reducing Costs and Maintaining ReliabilityToday, Ontario released the 2017 Long-Term Energy Plan (LTEP) that focuses on energy affordability, innovation and customer choice. As of July 1, 2017, Ontario’s Fair Hydro Plan reduced electricity bills by 25 per cent on average for residential consumers and as many as half a million small businesses and farms across the province. As part of the plan, any increases to bills will be held to the rate of inflation for four years. this, the 2017 LTEP confirms that electricity prices are forecast to remain below the level projected in the 2013 LTEP. For example, the 2013 LTEP forecast that typical residential monthly electricity bills would be $170 in 2017 and $200 in 2027. The 2017 LTEP forecasts bills prices to be $127 and $181 respectively, including the change in average consumption from 800 to 750 kilowatt hours per month. The outlook for electricity prices for large consumers will be, on average, in-line with inflation over the forecast period. While rates will rise gradually over time, the government remains committed to avoiding sharp increases through initiatives outlined in the plan. Initiatives in the 2017 LTEP include:
A strong long-term energy plan is part of our plan to create jobs, grow our economy and help people in their everyday lives. |
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CONTACTSColin Nekolaichuk Natasha Demetriades Ministry of Energy |