For years the Ontario residents and businesses have been feeling the pressure of steadily increasing hydro costs that have far outpaced the rate of inflation. This reality was reaffirmed in the recent Ontario Auditor General’s report that revealed Ontarians paid $37 billion more for their hydro than market value between 2006 and 2014. While much of the news has been focused on the impact for residential hydro payers, businesses of all sizes and sectors have been significantly impacted by rising hydro prices.
A recent column in The Globe and Mail echoed the effect of rising hydro on business by specifically detailing how surging electricity costs are threatening manufacturers across the province. For nearly a decade manufacturers have been attempting to cope with the steep increases in their hydro costs by shifting their productivity to off-peak times as well as taking advantage of new energy efficient machines, lights, and HVAC systems through the saveONenergy program.
But the hydro cost increases continue to press hard on business. If rising costs of hydro are not controlled, the cost of doing business in Ontario will threaten manufacturers and producers of all sizes and take thousands of good paying jobs with them.
There has been plenty of talk since the release of the AG’s report on numerous areas of concern. However, there have been no concrete ideas or plans for addressing the waste of taxpayer dollars. Acknowledging a problem is always important, but a problem without action never goes away on its own.
We will continue our work with the Ontario Chamber of Commerce in pressing the Ontario government at Queen’s Park to address the AG’s report to ensure hydro prices are more affordable for Ontarians and Ontario business. We encourage you to write your local MPP and make your voice heard on this matter.
Without action there will be no resolution.