Media Releases
FOR IMMEDIATE RELEASE
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TUESDAY – OCTOBER 17, 2007
ELECTRICITY RATES LOWERED….AGAIN! ONTARIO ENERGY BOARD ANNOUNCES LOWER RATES
CAMBRIDGE, Ont. - The Ontario Energy Board’s recent announcement to lower electricity prices effective November 1st, will be happy news for some residential and small commercial customers of Cambridge and North Dumfries Hydro Inc. The Ontario Energy Board regulates the local electric utility. They also set the price of electricity for customers supplied under the Regulated Price Plan.
In a move to help bring stability to electricity pricing, the Ontario Energy Board sets prices for electricity every six months, effective every May 1st and November 1st for customers supplied under the Regulated Price Plan.
Hydro President, John Grotheer stated the recent announcement to decrease electricity to 5.0 cents per kilowatt hour for the first step pricing (down from 5.3 cents) and 5.9 cents per kilowatt hour for the second step pricing (down from 6.2 cents) means a real saving for some customers.
This reduction amounts to a 5% savings for an average residential Cambridge and North Dumfries Hydro Inc. customer using 1,000 kilowatt hours per month for a bill this November over last year. That is significant when you consider that this same customer also benefited with savings from the May 1st electricity rate reduction.
Grotheer explained that residential customers have two choices for purchasing “electricity”. They can sign a contract with a Retailer and pay the amount defined in the contract or a customer can do nothing and be supplied their electricity at the Regulated Price Plan rates defined by the Ontario Energy Board. The electric utility gets paid to deliver the electricity, he said, we do not profit from the sale of the electricity. Our job is “to deliver”.
When asked about purchasing electricity, Grotheer cautioned that “buying electricity should be treated just like buying any other product or service. The consumer needs to be a smart shopper, do their homework, comparison shop, look at what has been happening in the electricity industry, and always read the fine print before deciding if a contract is right for them. These are legal binding agreements between the customer and the Retailer. The utility is not privy to the terms of the contract.
Grotheer suggested that consumers wanting to learn more about purchasing electricity should check out the information posted on the Ontario Energy Board website at www.oeb.gov.on.ca or call their toll free line at 1-877-632-2727.
FOR FURTHER INFORMATION CONTACT:
Cambridge and North Dumfries Hydro Inc.
Barbara Shortreed, Director Customer Care & Public Relations
519-621-8405, ext. 2227, bshortreed@camhydro.com
Check us out: www.camhydro.com
Cambridge and North Dumfries Hydro Inc., a local distribution company, delivers electricity to 48,700 customers in the City of Cambridge and the Township of North Dumfries. The electricity is delivered through their local distribution grid of poles, wires and underground systems to meet the needs of their communities over 305 square kilometers. Their team Vision is to exceed customer and other stakeholder expectations through operational excellence.
