Each year, Grimsby Power is required under directives from the Ontario Energy Board ("OEB") to submit a proposal for new electricity rates for the upcoming calendar year. The 2015 Rate Application was submitted to the OEB on August 13, 2014 and may be viewed on the Ontario Energy Board's website under Grimsby Power's filing number EB-2014-0076. A link to the site has been created under the Regulatory section of this website.
The application is formulaic in nature and is tied to inflation, recovery of permissible costs and in accordance with forecast changes to transmission and other rates beyond the control of Grimsby Power. The portion of costs over which Grimsby Power has control is proposed to increase by approximately 1.4% in 2015, in line with inflation. The rates are subject to change, with a final decision from the OEB expected toward the end of 2014.
Total bill impacts for residential customers would show an increase in the range of between 2.5% and 3.9%. A household with an average consumption of 800 kWh per month would potentially see an increase of $4.41, from $119.63 to $124.04 per month.
The bill impacts for business customers would be higher, in the range of between 6.7% to 9.6%. A small business with an average consumption of 2,000 kWh per month would potentially see an increase of $18.96 (6.7%), from $284.16 to $303.12.
For business customers whose electricity demand is greater than 50 kW, Grimsby Power has prepared a letter providing more detail, which may be viewed at the following link: Letter to General Service 50 to 4,999 kW Customers.