Electricity price increases already in effect
Condo corporations without electricity submetering can expect fee increases in excess of 20% unless they find ways to reduce expenditures in other areas.
Condo owners in condominium buildings that are not submetered can expect a 22.5% increase in electricity bills for 2016.
With electricity accounting for more than 25% of all expenditures in some condominium buildings, this likely represents a nearly 6% increase in condo fees. Actual increases can be expected to be higher resulting from inflation and devaluation of the Canadian dollar.
Electricity prices increased 12.5% effective November 1, 2015. This is slightly more than the anticipated 10% annual increase.
The 10% total electricity bill discount for bulk-metered and submetered condominium buildings ended December 31, 2015. It has been replaced by a new subsidy program for individual suites that are submetered.