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On June 12, 2012, the Ontario Ministry of Energy introduced the
Industrial Electricity Incentive Program with
the objective of creating new jobs in the industrial sector.
Effective January 2013, eligible companies could qualify for
reduced electricity rates if they create new jobs and/or bring new
investment to Ontario. New businesses entering the province would
be able to receive contracts of up to 20 years for power at $55 per
megawatt hour inclusive of transmission and delivery costs.
Contracts of comparable length usually receive pricing of $75 per
megawatt.
Businesses would be able to apply to the program through two
streams. Stream 1 would be available to companies looking to
establish new operations in Ontario. To be eligible, companies
would be required to make a minimum investment of $250 million that
supports new technology, products or processes. Proposals from
companies will be evaluated according to expected job and economic
benefits. If a proposal is accepted, long-term contracts would be
offered through the Ontario Power Authority, depending on the size
of the proposed project.
Stream 2 would be available to companies which have already
established operations in Ontario. To be eligible, companies would
be required to expand their current operations. Such companies
would be required to pay the market rate for electricity until
2020, after which they would qualify for long-term contracts at the
reduced rates whose terms would depend on the size of the proposed
project.
The Ontario government expects to consult with industry over the
next three to four months. It plans to provide specific rules by
Fall 2012 with a full program launch in January 2013. The program
would not affect electricity rates for consumers.
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