How Does Hydro Effect Condominium Operating Budgets
A Condominium budget experiences about 30% of their operating budget for utility costs. How much HST is there on utilities province wide. COA reviewed documentation on discussions between the Government, Energy Consultants, Ontario Energy Board, Ontario Hydro and OPG.
In May 2010, the Ontario Government ordered the Province’s Crown-owned electricity utilities to cancel their requests for hydro rate increases because they were worried about consumer backlash over soaring power costs. The Government’s rate-setting process is designed to take the politics out of electricity pricing because it was determined that Condo Owners and Homeowners are already facing increases of $300 more a year on average to keep the lights on by the end of 2011.
HST Affects Operating Budgets
Hydro Special Information Websites
- Globe and Mail – Ontario utilities told not to bother with requests for rate increases
- Information on Advocates for Home Energy – Home Energy Labeling Now
- IESO – Electricity – List of all utilities operating in Ontario – Power of Ontario On Demand
- Canada Energy – List of Ontario Hydro Utilities
Local distribution companies, are responsible for distributing power from transmission lines to people’s homes. All issues related to your electricity contract, ie. physical service, billing, meter reading, etc. are handled by your local utility
Hydro Electric – Consider these facts
- Toronto Hydro Electric System is the local distributor of electric power in the City of Toronto
- In 2005 the utility served a peak load of over 5,000 MW
- They had nearly 600,000 residential
- 70,000 commercial and industrial customers
- and they had 1,600 employees
- The corporation had revenues over CDN $2,600,000,000 in 2005.
What are the Stats in 2010? FAST FACTS ABOUT ENERSOURCE HYDRO MISSISSAUGA
- Peak electricity demand was approximately 1,610 megawatts in August 2006
- Third largest supplier (by demand) among 80 municipally-owned utilities in Ontario
- Serving over 186,000 customers
- Electrical system circuit spans over 5,000 kilometres
- Operating 65 municipal substations and over 25,000 distribution transformers
- Everyone in Ontario directly or indirectly pays for electricity
- Electricity prices are constantly increasing
- HST increased tax on consumption by an additional 8% having started on July 2010
- Total electrical consumption in Ontario in excess of $5 Billion Dollars Annually and growing!