Ontario Industrial Electricity Incentive Program aims to attract investment
June 12, 2012 By Anthony Capkun
June 12, 2012 – The Ontario government is introducing the Industrial Electricity Incentive program to create new jobs in the industrial sector. “This program will help create new jobs for Ontarians through incentives that attract significant new industrial investments and encourage existing companies to expand their operations,” said Chris Bentley, minister of energy.
By January 2013, eligible companies could qualify for a reduced electricity rate if they create new jobs and bring new investment to Ontario. The program would encourage existing, large industrial companies to make significant expansions to their operations and create jobs. It would also help attract new companies to locate in the province.
Ontario admits electricity demands remain below pre-recession levels. The Industrial Electricity Incentive program would allow industrial companies to access electricity that would otherwise be exported to neighbouring jurisdictions. The program would not affect electricity rates for consumers.
The Industrial Conservation Initiative is available to over 200 of Ontario’s largest energy consumers, and provides a “strong incentive for industrial companies to shift their electricity consumption to off-peak hours to save on costs”.
The Northern Industrial Electricity Rate Program provides electricity price rebates of $0.02/kWh to qualifying large industrial facilities that commit to an electricity efficiency and sustainability plan.
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