Ontario Newsroom

Creating Jobs through Competitive Industrial Energy Rates

News Release

Creating Jobs through Competitive Industrial Energy Rates

Ontario Benefits from Strong, Reliable and Affordable Energy Supply

Ministry of Finance

Ontario is encouraging industrial growth and job creation by expanding eligibility for two existing industrial electricity programs and enhancing conservation programs for small businesses. 

Proposed modifications to the Industrial Conservation Initiative (ICI) and a new opportunity to participate in the Industrial Electricity Incentive (IEI) will help eligible companies reduce electricity costs and increase competitiveness. 

The Industrial Conservation Initiative provides a strong incentive for large electricity consumers to shift their electricity consumption to off-peak hours to save on average 15 to 20 per cent on their energy bills. Ontario is proposing to expand the program to include eligible customers with monthly peak demand greater than three megawatts, down from the current threshold of five megawatts. This would open participation to hundreds of additional medium-sized electricity consumers.

The Industrial Electricity Incentive offers eligible companies reduced electricity rates if they expand their operations and create jobs. Starting in 2014, broader eligibility for new applications for 10-year contracts under the IEI program will allow for participation from a wider range of companies. This program is designed to improve load management by encouraging industrial companies to expand and make use of the province's strong supply of electricity, allowing for increased investment and job creation.

Ontario-based small businesses will also be offered enhanced conservation programs in partnership with local distribution companies and key agencies. A five-point plan has been developed to help small businesses conserve energy, manage costs and save money.

Helping Ontario's businesses manage electricity costs is part of the government's economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario's greatest strengths -- its people and strategic partnerships.

Quick Facts

  • More than 350 jobs will be created in Ontario’s mining, steel and pulp and paper sectors through Stream 2 of the IEI program.
  • Successful IEI participants will receive contracts lasting either 10 years or ending Dec. 31, 2024 — whichever is less.
  • Since 2003, Ontario has added approximately 12,000 megawatts of new and refurbished clean energy online — enough to power both the Greater Toronto Area and the City of Ottawa.

Additional Resources

Quotes

Bob Chiarelli

“Ontario is taking advantage of its strong electricity supply to create jobs and build our economy. Expanding these industrial incentives will reduce electricity system costs by better using our available power and help support a dynamic and innovative climate for business to thrive, grow and create jobs — strengthening local economies across the province.”

Bob Chiarelli

Minister of Energy

Charles Sousa

“Our government is committed to helping businesses compete and grow which supports the creation of jobs and prosperity for Ontarians. Helping our Ontario companies lower their utility costs will enable them to further invest in their business which bolsters Ontario's economy.”

Charles Sousa

Minister of Finance

Media Contacts

  • For Media Inquiries only

  • Ministry of Finance:

  • Susie Heath

    Minister’s Office

    416-325-3645

  • Scott Blodgett

    Ministry of Finance

    416-325-0324

  • Ministry of Energy:

  • Beckie Codd-Downey

    Minister’s Office

    416-325-2690

  • Andrea Arbuthnot

    Communications Branch

    416-326-4542

Share

Tags

Business and Economy Taxes and Benefits