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Fraser Institute News Release: Electricity costs for Ontario residents keep increasing despite government subsidy

TORONTO, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Electricity prices in Ontario continue to rise, despite the Ontario governmenta??s attempts to lower them, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian policy think-tank.
a??Ontarians know their hydro bills skyrocketed over the past 10 years, but many may be surprised to learn those costs continue to go up,a?? said Elmira Aliakbari, associate director of natural resource studies at the Fraser Institute and co-author of The Ontario Governmenta??s Electricity Policies 2018-2019: How They Are Failing and How to Fix Them.The study finds that despite introducing a debt-funded government subsidy, residential electricity prices in Toronto rose by five per cent from April 2018 to April 2019. Large electricity consumers (large factories, for example) experienced a 10 percent increase in their electricity costs in Toronto over the same period.Consequently, Ontario residents are paying 22 per cent more (on average) for electricity than the rest of Canada. And large electricity consumers in Ontarioa??who are paying the highest electricity rates in the countrya??are paying 65 per cent more than large consumers in the rest of Canada.So why do electricity prices in the province continue to rise?
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