Mississauga Board of Trade Welcomes Throne Speech Promise To Reduce Electricity Costs for Businesses

September 13, 2016:  In the provincial Throne Speech read by the Lieutenant Governor on September 12, 2016, the Government announced that it would deliver additional relief on electricity bills.

The Government will introduce legislation that would rebate – directly on consumers’ residential electricity bills – an amount equal to the provincial portion of the Harmonized Sales Tax, an eight per cent savings.  The rebate would go into effect on January 1, 2017 and small businesses will also qualify.

To benefit more businesses, the Government will expand eligibility for the Industrial Conservation Initiative by lowering the threshold for participation and broadening participation to all sectors.  When fully implemented, participating industrial customers will be able to find savings of up to 34 per cent, depending on their ability to reduce peak consumption.

“This promise is welcome news for businesses in Ontario.  Our members have been telling us that the high price of electricity is affecting their costs dramatically so any way to lower the price is going to be helpful,” said David Wojcik, President, Mississauga Board of Trade.