Parry Sound residents and businesses who get their electricity from Lakeland Power could see a reduction in their hydro bills by May of 2019.

Lakeland Holdings Ltd. CEO Chris Litschko says the company has made an application to the Ontario Energy Board for an adjustment to the Distribution Rate that could save residents about $7.00 a month.

“The Distribution Rates in Parry Sound for an average RESIDENTIAL customer is $40.54 and we have asked to have these decreased to $33.55 per month – a considerable saving”, adding that for an average Parry Sound BUSINESS customer, Lakeland has asked the OEB for a reduction of about $10.00 from $72.28 to $62.02 per month.

If approved, the move will harmonize the old Parry Sound Power Corporation rates with Lakeland’s current rate structure.

The Ontario Energy Board held a public meeting late in November at the Stockey Centre in Parry Sound regarding the issue.

Starting in early January, questions can be posed through the Ontario Energy Board regarding Lakeland’s rates application.

Litschko says that at the end of February, Lakeland Power will be meeting at the Ontario Energy Board to discuss the rates further and possibly make additional changes as necessary.

“After this meeting, it is hoped that the OEB will approve new rates which come into effect on May 1, 2019”.