Cornwall Electric Releases New Rate Schedule for 2020June 17, 2020
Cornwall, Ontario – Cornwall Electric rates will increase 2.95% on July 1, 2020. This will equate to an increase of $3.95 per month for a residential customer using 1000 kWh monthly.
Like all utilities in Ontario, the wholesale cost of electricity is passed through to customers. This cost represents near 80% of a customer’s total bill.
“The long term contract in place with Hydro Quebec is a wholesale contract and it has and continues to allow Cornwall Electric rates to be one of the lowest in surrounding electrical utilities and will continue to provide rate stability of energy prices and reliable electricity well into the future for their customers,” says Jackie Baird, Regional Manager of Cornwall Electric.
The remaining 20% of the customer’s bill represents the distribution charges. These charges pay for operating expenses, system maintenance and equipment replacements to the Cornwall Electric electrical system to deliver safe and reliable supply of power to customers.
Cornwall Electric promotes energy conservation. By conserving energy, customers can manage their monthly electricity costs and at the same time be a part of reducing the impact on the environment. One way to do this is to take advantage of the Affordability Fund Trust (AFT) Program. The program, funded by the government of Ontario, provides households with access to energy saving measures to help reduce their energy bills, free of charge.
“Over the last number of years, Cornwall Electric has maintained fair and reasonable rates pursuant to the terms of its franchise, and rate adjustments have been in line with inflation. During the pandemic, Cornwall Electric is committed to supporting its customers while at the same time addressing the need for the utility to remain financially healthy,” said Ms. Baird. “And Cornwall Electric remains focused on making decisions in the best interest of the customers.”
“Under the franchise, the Company is allowed to adjust rates for 2020-2021 (by a 4.62% increase). Since the current economic climate is not conducive to implementing the allowed increase at this time, Cornwall Electric is implementing a 2.95% rate increase effective July 1 and will collect the balance of the rate adjustment in 2021 as part of the rate adjustment for that year.”
Cornwall Electric recognizes its role in working through COVID-19 with its customers, and has taken other steps in order to provide relief during this difficult time.
About Cornwall Electric
Cornwall Street Railway Light & Power Company Ltd. (“Cornwall Electric” or “CE”) is a wholly owned subsidiary of FortisOntario Inc. (“FortisOntario”). CE has approximately 24,800 customers in the City of Cornwall, South Glengarry, South Stormont, and the Ontario portion of the Mohawk Territory of Akwesasne.
For further information visit www.cornwallelectric.com.
About Fortis Ontario
FortisOntario, headquartered in Fort Erie, has operations in electricity distribution and transmission, and serves approximately 65,500 customers primarily located in Fort Erie, Port Colborne, Cornwall, Gananoque, and the Algoma district of Ontario and meets a peak demand of over 248 MW.
FortisOntario is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry.