Tales of skyrocketing household hydro bills are commonplace across Ontario. And understandably everyone — even with modest bills — should worry for the simple reason that it’s only going to get worse.
Thanks to the Liberal government’s “long-term energy plan,” Ontarians can count on their electricity rates going up 33 per cent over the next three years. And within five years, the average monthly bill of $125 will rise to $178 — a 42 per cent increase
For individuals and families, it’s going to be a huge burden. But what’s sometimes forgotten is that soaring energy costs are having a serious impact on the economy. According to the Association of Major Power Consumers of Ontario, the province already has the highest industrial rates in North America. Based on 2012 power prices, AMPCO — representing almost 40 of the largest power consumers in the province — says Ontario industries pay 7.6 cents to 9.4 cents for a kilowatt hour for electricity. Read article