Effective 1st May 2014 Ontario Hydro prices increased again, this time on average by 2.4%, or $33.96 per year according to the Ontario Energy board. Due to time of use billing the amount your electricity bill actually increases may vary significantly from this number. With a peak time billing rate of 13.5 cents kW/h. Electricity has become one of the most expensive fuels for Ontario homeowners, so what can you do about it.