Electricity rates set to soar
The manager of North Bay Hydro says a hidden government fee is taking a huge bite of your bill, and it’s set to go dramatically higher. Todd Wilcox says the culprit is the Global Adjustment Fee. The fee pays for renewable energy like solar and wind power, but could also pay for things like the 180 million dollar cost of the recently cancelled gas plant in Oakville. Wilcox warns customers to prepare for hefty increases. The province produces about three times more power than it needs, and often sells the excess at a loss to Quebec and the United States. They in turn lure Ontario industry out of the province by offering bargain basement hydro rates.