Hydro seeks rate hike citing lost revenue as consumers cut usage Last Updated: Thursday, March 22, 2007 | 11:56 AM ET CBC News The popularity of energy conservation programs is hurting Toronto Hydro's bottom line and the utility is now seeking to raise electricity rates as a result. Toronto Hydro-Electric System Ltd. has applied for a rate increase of 6.3 per cent on May 1 to recover a $10.4-million drop in revenue. If approved, customers using about 1,000 kilowatt hours per month would see an increase of $2.07 on their bills, the utility says. Toronto Hydro blames the fall in revenue on the success of conservation programs over the past two years and the cost of buying and installing thousands of smart meters. Electricity loads in the city fell by 178.5 million kilowatt hours — enough to power 178,000 homes for a month — between spring 2005 and the end of 2006, said company president Anthony Haines.