The cost of electricity has been a drain on Ontario’s economy and public finances for decades. Successive governments have meddled more and more in the market for electricity, with Ontario ratepayers and taxpayers paying for the resulting rise in electricity costs, according to my new study, released Tuesday by the Fraser Institute. Despite promises to fix the mess, Doug Ford’s Progressive Conservative government has continued the policy of directly setting electricity’s price without lowering its cost.
As long as governments in Ontario treat electricity as a tool to be manipulated for electoral purposes and avoid re-establishing the supremacy of market forces, ratepayers and taxpayers will continue to hemorrhage money.
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