Northern Ontario's chambers of commerce have asked the province to provide more relief from soaring hydro rates in a joint letter to Ontario Energy Minister and Sudbury MPP Glenn Thibeault.
The Greater Sudbury Chamber of Commerce joined forces with the Timmins, Thunder Bay, Sault Ste. Marie and North Bay chambers of commerce to submit the letter, which makes 12 recommendations to help address high electricity rates for businesses.
“Electricity prices have been rising unsustainably over the years and it has made it extremely difficult to invest or run a business here in Northern Ontario,” said Tracy Nutt, chair of the Greater Sudbury Chamber of Commerce, in a press release. “We are inputting into the LTEP (Long-Term Energy Plan) to ensure an affordable, transparent and predictable path forward for energy in this province.”
“For businesses to invest and grow, they need to know what their energy expenses will look like five, 10, 20 years from now – especially in Northern Ontario,” she added. “Our energy costs are much higher in the North, so even a small increase makes a bigger difference here than it does elsewhere.”
A recent report issued by the Ontario Chamber of Commerce concluded one in 20 Ontario businesses expect to close their doors in the next five years due to rising electricity prices. In addition, 38 per cent will see their bottom line shrink, with the cost of electricity delaying or cancelling investment in the years to come.
The Northern Ontario chambers of commerce recommended the province clarify the global adjustment so ratepayers can better understand their hydro bills.
The joint letter also recommended the provincial government publish additional details about cap and trade, including regular economic impact assessments on how cap and trade is affecting local businesses and supply chains.
In addition, the northern chambers of commerce asked the province to expand access to natural gas pipelines and improve the electricity transmission grid to ensure communities can develop and businesses can afford to invest in Northern Ontario.
