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Ontario's Electricity Prices Continue to Skyrocket

Starting this month, electricity prices for households, small businesses, and farms will once again rise. Dictated by the Ontario Energy Board (OEB), rates are set to rise by up to 10%, with on-peak power now costing 20.3¢/kWh, and ultra-peak, the highest tier under Ontario's Ultra-Low Overnight plan, jumping to 39.1¢/kWh.

These increases reflect a broader trend across the province, with electricity costs steadily climbing — a trend that is unlikely to cool off anytime soon.

Driving this price increase is Ontario's growing demand for power, particularly as a result of economic growth, immigration, and growing electrification. At the same time, maintaining and upgrading Ontario's (and the rest of Canada's) aging grid is getting more expensive, with costs passed directly on to ratepayers through higher delivery and energy charges. Have a closer look at your next electricity bill, and you'll see exactly how much you're truly paying.

Simply put, the cost of electricity is rising, and that's a trend Ontarians can expect to continue.

That's not to say there isn't good news. The cost of solar energy and battery storage has fallen dramatically over the past decade, making it one of the most effective ways to protect yourself from future rate hikes. Once installed, solar panels let you generate your own clean electricity for half the cost or less of current grid power, and paired with storage, lets you save and use energy for when the rates peak or outages strike.

Take Control of your Power Bill

Instead of being at the mercy of the next price hike announcement, homeowners and businesses can lock in their own long-term energy stability and reduce their exposure to unpredictable grid costs.

As Ontario continues to grow as one of North America's most prominent urban centres, electricity prices will inevitably keep rising. But with solar and storage, you don't have to keep paying more for the same lifestyle. You can produce it yourself, sustainably, reliably, and for less money.

Save more, power your home and stay energy independent. Take advantage today.