Toronto Hydro Corp. will implement an electric rate rollback starting Jan. 1, 2017.

Average residential customers using 750 kWh per month will see a decrease of C$13.66, or 8.5%, in their monthly bills, according to a Dec. 29 company release.

The lower rates for typical residential customers are a result of a 12.7% increase in regulatory charges, offset by a 5.2% cut in delivery charges, and the introduction of an 8% provincial rebate from the Ontario government.