ON reducing energy costs for forestry and mining companies
June 22, 2017 - Ontario is reducing electricity costs by up to 25 per cent for some of the biggest job creators in Northern Ontario, including mining and forestry companies, to boost their competitiveness and help them continue to grow.
June 22, 2017 By Ontario Ministry of Northern Development and Mines
The province is providing support for large and industrial businesses through the improved Northern Industrial Electricity Rate (NIER) program, ensuring more stable electricity costs. This support will enable them to better plan for long-term growth and continue to create and sustain good jobs in Northern Ontario.
The updated program will make a positive impact on participating companies by:
- Extending the NIER program participation term from three to five years, ensuring businesses can count on greater rate stability for longer
- Accepting more new companies into the program sooner so that more businesses can benefit from more stable rates
- Connecting the rebate level to current electricity usage more accurately
- Encouraging participants to report on activities they are undertaking to address climate change within their organizations.
“Our government recognizes the unique challenges that large and industrial businesses face in the North. The NIER program will continue to help Northern Ontario’s large and industrial electricity consumers reduce their energy costs, create and sustain jobs and improve their global competitiveness,” Bill Mauro, Minister of Northern Development and Mines, said in a news release.
“These significant developments to the Northern Industrial Electricity Rate Program are part of our government’s ongoing commitment to reduce electricity costs for businesses in the North. Improvements to the program will extend participation periods for businesses, create greater certainty for investment and ensure that industries remain competitive and support jobs in Northern communities,” Energy Minister Glenn Thibeault said.
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