Energy prices capped for industry
TORONTO, ONTARIO - The Ontario government announced it will continue the cap on the price of electricity for industrial users for another three years.
"This is an important step for Ontario's economy and means enhanced competitiveness," Energy Minister Donna Cansfield said.
Major industries have been loudly complaining for months that the high cost of electricity in the province is hurting their bottom line and in some cases driving them out of business.
"Today's announcement is an important step in helping Ontario's industries remain viable and competitive," Scott Hand, chair and CEO of Inco Ltd., said.
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