Cornwall Electric Rates Frozen for 2016-2017
Cornwall, Ontario - Cornwall Electric rates will remain the same for the upcoming rate year, which runs from July 1, 2016 to June 30, 2017. This is the second year in a row that Cornwall Electric electricity rates remain unchanged.
Michael O’Reilly, Regional Manager of Cornwall Electric, attributed the rate stability to two electricity supply contracts previously negotiated with Hydro Quebec. The two long term wholesale agreements continue to provide security of supply and rate stability.
“Like all other utilities in Ontario, the wholesale cost of electricity is passed through to customers. The long term contracts with Hydro Quebec provide security of supply and rate stability through to December 2019,” said O’Reilly. “Cornwall Electric rates continue to compare very favorably to surrounding electrical utilities”.
Cornwall has traditionally been able to offer electrical rates lower than most other Ontario municipalities due to its unique supply agreement with Hydro Quebec. This rate advantage has been particularly attract to industries that use a lot of electricity as part of their process.
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 through the Cornwall Electric substations then to the customers’ homes and businesses and to provide for system maintenance and capital equipment replacement. In 2016, Cornwall Electric’s capital program will invest approximately $4 million dollars in distribution system expansions and capital replacements.
Cornwall Electric promotes the wise use of electricity and urges customers to conserve energy and consider using energy efficient appliances, lighting, shower heads, and installing programmable thermostats, weather stripping and pool pump timers. These measures reduce consumption and help customers manage costs.
Cornwall Electric supplies electricity to 24,300 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.
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