Environment-related expenditures are expected to increase in the years ahead and represent a significant cost pressure within the electricity sector. Ontario is more reliant on nuclear and hydro-electric power generation than adjacent U.S. states. Most of Ontario's electricity supply comes from emission-free hydro and nuclear power plants. Ontario is committed to having the cleanest electricity of any jurisdiction in North America. Through its tax cuts and pro-business policies, Ontario has emerged as one of the most competitive jurisdictions for business, investment and job creation in North America.
Electricity pricing is only one factor affecting our competitive position.
While the rate change announced today will affect input costs for industry, the cost of power in Ontario will still be significantly lower than in most competing and neighbouring jurisdictions. The introduction of a competitive electricity market in Ontario will ensure that the supply to industrial users remains safe and reliable, prices remain competitive and consumers get the best deal possible. Wilson summed up by saying that today's price change is aimed at cleaning up the mistakes of the past, dealing with the excess costs of the old monopoly and providing continued security of energy supply well into the future. A competitive electricity market represents the future. A future where our electricity supply remains safe and reliable, prices remain competitive and consumers get the best deal possible.