Stats Show Rising Canadian Hydro Costs

The latest figures from Canada show Ontario’s electricity prices jumped 9.3 percent last month and are now 21.8 percent higher than in May 2001, before the Conservative government launched Hydro deregulation and privatization.

Queen’s Park, Ontario – August 26, 2002 [] Detailed data published last week by StatsCan show the cost of electricity in Ontario increased 7.7 percent in June 2001, when the government increased wholesale rates by regulation. Power costs took another leap in March 2002, when distribution rates were raised to cover the profits of private companies, taxes, payments-in-lieu of taxes and significant implementation costs involved in deregulation. A further increase in July, as wholesale prices spiked as high as 47.1 cents per kilowatt hour, brought electricity rates to 29.6 percent higher than the 1992 benchmark used by Statistics Canada and 21.8 percent higher than May 2001.
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