News source from CTV News
Ontario’s long-term energy plan projects that electricity ratepayers will see their hydro bills rise to an average of $181 a month in 10 years.
That’s lower than the $200 a month the last long-term energy plan expected bills to increase to by 2027, but significantly up from the current average of $127 a month.
The Liberal government says it plans to avoid sharp increases during that time through initiatives including only securing new power when it’s needed and allowing more people to produce their own green energy to power their homes.
The plan projects a shortfall in electricity supply starting a little after 2020, when one nuclear generating station reaches the end of its life, others are removed from service for refurbishment and some supply contracts expire.
Government officials say their plan is to close that gap largely through moving away from long-term, 20-year contracts and diversifying the supply mix.
The demand for electricity is expected to rise toward the end of the 16-year plan, partly due to an increase in electric vehicles — which the government assumes there will be 2.4 million of by 2035.
There are currently fewer than 15,000 registered electric vehicles in the province.
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