Gas prices in Ontario may go up 4.3 cents a litre
Cap-and-trade to add $5 a month to natural gas bills
Cap-and-trade to add $5 a month to natural gas bills
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.
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