It's not just happening in Ontario. In British Columbia, natural gas prices went up 27 per cent on New Year's Day. Soaring gas bills are driving Canadians to distraction, and utility companies have been deluged with complaints. In short, blame the free market. Canada is now part of a continent-wide natural gas market.
Many consumers think gas prices are tightly regulated.
But that's only partly true. The actual commodity cost is unregulated and varies according to market conditions. The price we charge you is the same as the price we pay. And as with any other commodity, supply and demand drives the price of natural gas. And the free market has driven prices through the roof.