OTTAWA: The Burlington Chamber of Commerce has joined a coalition of 36 chambers of commerce and boards of trade from across Ontario calling on the provincial government to provide evidence that electricity prices will not increase as a result of the government’s decision to sell 60 percent of Hydro One.
“Rising electricity prices are a collective concern and have put Ontario businesses at a competitive disadvantage,” Keith Hoey, president and CEO of the Burlington Chamber of Commerce, said in an Aug. 20 press release.
“It is important to recognize that electricity represents a significant cost to employers. As the government moves forward with the sale of Hydro One, it is essential that it works to ensure that business operation in Ontario remains affordable by containing electricity costs,” he said.
In a recent report by the Ontario Chamber of Commerce, entitled Empowering Ontario, it called for increased transparency from the provincial government on electricity and system costs.
The partial sale of Hydro One should be subject to a similar level of scrutiny, the provincial chamber contends.
Back in May, eight officers of the legislature — including outspoken Ombudsman André Marin — signed a statement calling on Ontario Premier Kathleen Wynne to reverse plans to “significantly reduce” their oversight powers over Hydro One.
Deputy premier Deb Matthews said at the time that the change in oversight is necessary as the Liberal administration prepares to sell 60 per cent of Hydro One, raising $9 billion to pay down debt and fund more public transit.
“It is a different kind of oversight when it is a publicly-traded company,” said Matthews, noting the government will appoint an internal ombudsman at Hydro One, which will be subject to regulation by the Ontario Securities Commission.
In the short time since the release of the 2013 Long Term Energy Plan, industrial electricity rates have increased 16 per cent, and will increase another 13 per cent over the next five years, says the Ontario Chamber of Commerce (OCC).
