Brace yourself for higher hydro rates.
According to the Ontario Energy Board (OEB), rates for households and small businesses will be going up starting next week.
Rates are scheduled to increase by about $1.99 or 1.8% for a typical residential customer who uses 700 kilowatt hours per month.
The OEB says the new rates — which the board says are "in line'' with inflation — will take effect Nov. 1 and could be noticed on bills within a few weeks of that date.
You can blame the increase on government legislation aimed at reflecting the actual cost of supply on bills, and also on the refurbishment of nuclear facilities.
The provincial government said in March it would continue to subsidize hydro rates and hold any increases to the rate of inflation.
— With files from The Canadian Press