Auto manufacturing contributes employment for over 124,000 Ontarians and contributes millions to the provincial economy each year. High electricity rates that remain uncompetitive with other jurisdictions vying for automotive investment is an issue exacerbated by future carbon pricing and cap and trade policies.
Car makers urge Ontario to address electricity prices - MMD
The Ontario government's recent announcement that it is rolling back hydro rates for households appears to do nothing to address a climate of investment uncertainty related to the urgent need to address out of control Class A industrial electricity rates that can be as high as 2 to 3 times higher in Ontario than in competing auto jurisdictions, the Canadian Vehicle Manufacturers' Association (CVMA) said in a statement.
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