Ontario introduces Ontario Clean Energy Benefit (OCEB)
The Ontario government has introduced the Ontario Clean Energy Benefit (OCEB), which would provide a 10% benefit to help consumers manage rising electricity prices for the next five years, according to a Government of Ontario news release. The OCEB, which would help more than four million residential consumers and more than 400,000 small businesses, farms and other consumers, says the government, would take effect on January 1, 2011.
By Craig Pearson
In order to have a clean, modern and reliable electricity system that includes renewables and creates jobs, the government says it has made significant investments. While necessary and unavoidable, these investments are increasing electricity costs. Over the next five years, the government expects residential electricity prices to rise by 46%, after which price increases are expected to moderate as Ontario will have largely completed the transition to a cleaner, more reliable system.