Gas prices in Ontario may go up 4.3 cents a litre

Cap-and-trade to add $5 a month to natural gas bills

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TORONTO – Ontario Premier Kathleen Wynne says her government’s cap-and-trade plan will add about 4.3 cents a litre to the price of gasoline and about $5 a month to natural gas bills.

However, Wynne says electricity consumers will be “protected” against rate hikes because of cap-and-trade, and could even see their rates go down.

She says the government will use revenue raised from auctions of carbon emissions to industries to keep electricity rates in check.

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Wynne says people have to realize the cost of doing nothing to combat climate change will be even greater than putting a price on carbon.

More details of the cap-and-trade plan are expected to be revealed in Thursday’s Ontario budget.

It is scheduled to take effect next January and the government expects to raise about $1.3 billion in its first full year of operation, money that will be devoted to lowering greenhouse gas emissions.

One comment on “Gas prices in Ontario may go up 4.3 cents a litre

  1. I agree, because we have take care about environment, and to generate more clean energy.

    Reply

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