A Condominium budget experiences about 30% of their operating budget for utility costs.
How much HST is there on utilities province wide. COA reviewed documentation on discussions between the Government, Energy Consultants, Ontario Energy Board, Ontario Hydro and OPG.
In May 2010, the Ontario Government ordered the Province’s Crown-owned electricity utilities to cancel their requests for hydro rate increases because they were worried about consumer backlash over soaring power costs. The Government’s rate-setting process is designed to take the politics out of electricity pricing because it was determined that Condo Owners and Homeowners are already facing increases of $300 more a year on average to keep the lights on by the end of 2011. Continue reading