On November 1st, 2019, Toronto Hydro sent out an email advising that the Ontario Energy Board announced new rates for electricity costs, effective same day. The astronomical increase is familiar to hyper-inflation symptoms found in third-world countries going to economic crisis.
More disturbing is the lack of coverage by main stream media about this significant increase in electricity costs. This will have a potentially severe impact on some residents, such as the elderly on pensions.
Homeowners and tenants that pay their own utilities, will be surprised when they receive their next bill. No doubt Toronto Hydro will be receiving a lot of phone calls from across the city.
If you find yourself in a situation where you won’t be able to pay the higher electricity costs, there are a number of programs that could help you deal with the situation. Check out other programs as well that you may qualify for to help with your monthly bills.
The Ontario Electricity Support Program (OESP) provides monthly on-bill credits for lower-income customers to reduce their electricity costs. Details
“If you’re behind on your electricity or natural gas bill and face having your service disconnected, you may qualify for emergency financial help through the Low-income Energy Assistance Program (LEAP). There are also special customer service rules available for low-income households. You need to meet certain criteria to qualify for these programs, and must go through one of the intake agencies in Ontario listed below.” Details
Are you aware of other programs?… please enter a link in the comment section below so I can add them to the list.