REPORT: ONTARIO ELECTRICITY COSTS KEEP RISING DESPITE GOVT PROMISES TO LOWER THEM
Nov 06, 2019
By Bob Komsic
Despite promises by the Ford government to lower electricity costs, a just released study from the Fraser Institute says they keep rising.
For example, residential costs in Toronto rose 5% from April 2018 to this past April while Ontario residents are paying 22% more on average than the rest of the country.
The Fraser Institute says one main reason prices continue going up is the provincial surcharge on electricity, the so-called Global Adjustment, which is largely made up of contract costs with renewable energy generators that produce little electricity.
”In order to meaningfully reduce electricity costs in Ontario, policymakers must deal with the fundamental reasons why electricity costs continue to rise, which are the subsidies being paid to renewable energy providers,” according to an Institute spokesperson.