Electricity Prices Are Changing

Although electricity prices are rising, you may be eligible for credits and benefits that can help manage costs. The new Ontario Clean Energy Benefit takes 10 per cent off electricity bills for families, farms and small businesses. The average household will see savings of about $150 this year. The credit will be applied directly to your electricity bill for the next five years. When you file your 2010 tax return, you may also be eligible for the Ontario Energy and Property Tax Credit. You could be eligible for up to $900 and as much as $1025 for qualifying seniors. Over the next 20 years, including taxes and other charges, electricity bills are projected to rise about 3.5 per cent per year. However largely because of investments being made in the short term to bring on new energy supply and upgrade electricity infrastructure, electricity bills are expected to increase by about 7.9 per cent per year over the next five years. Ontario is building the infrastructure we need to make sure the lights stay on. That means upgrading old transmission lines and power plants. It also means shutting down coal plants that pollute the air we breath and moving to cleaner sources of electricity. To find out more, go to: www.ontario.ca/energyplan

Published by bramptonhousesforsale

Licensed REALTORS® specializing in residential real estate in the Brampton, Mississauga, Georgetown, Orangeville, Milton and Caledon area. For buying a home or selling a home, call us for personal and professional advise

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