For immediate release
April 30, 2013 (Cornwall, Ontario)
- Cornwall Electric rates will increase 2.56% July 1, 2013. Michael Pescod, Regional Manager of Cornwall Electric, attributed the moderate increase to the long-term wholesale electricity supply contracts with Hydro Quebec. A residential customer using 800 kWH per month will see their monthly invoice increase by $2.52.
The long term wholesale agreements ensure security of supply and rate stability. Cornwall Electric eligible residential and small business customers continue to receive the Ontario Clean Energy Benefit which will save 10% on electricity costs. Also, Cornwall Electric customers are not subject to the debt retirement charge.
“Like all other utilities in Ontario, the wholesale cost of electricity in Cornwall is passed through to customers. The long term contracts with Hydro Quebec provide security of supply and rate stability to December 2019,” said Pescod. “Cornwall Electric rates continue to compare favorably to surrounding electrical utilities”.
The wholesale cost of electricity represents approximately 80% of the customer’s total bill. The remaining 20% represents the distribution charges. These distribution charges pay for Cornwall Electric to deliver safe and reliable power from the Cedars Rapids Transmission lines to the customers’ homes and businesses and to provide for system maintenance and capital equipment replacement. In 2013, Cornwall Electric’s capital program will invest approximately $7 million dollars in system expansions and capital replacements. This work includes $3.2 million to double the capacity at the Boundary Road Substation to supply new load in the Industrial Park.
Cornwall Electric promotes the wise use of electricity and urges customers to conserve energy and consider changing to energy efficient appliances, lighting, shower heads, and installing programmable thermostats, weather stripping and pool pump timers. These measures will reduce consumption and help customers manage costs.
Cornwall Electric supplies electricity to 24,090 customers in the City of Cornwall, South Glengarry, South Stormont, and the Ontario portion of the Mohawk Territory of Akwesasne. It is a wholly owned subsidiary of FortisOntario, headquartered in Fort Erie with operations in distribution and transmission serving approximately 65,000 customers in Fort Erie, Port Colborne, Cornwall, Gananoque and the Algoma district of Ontario. FortisOntario is 100% owned by Fortis Inc. of St. John’s, Newfoundland. For more information on FortisOntario, please visit the corporate website at www.fortisontario.com
For further information, please contact:
Mr. Michael Pescod
Phone: (613) 932-0123 Ext. 4228
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