April 24, 2014 4:16 pm

How Ontario says it will help businesses save on electricity costs

Ontario says a new incentive will help businesses save money

Ferdinand Ostrop/The Canadian Press

TORONTO – Ontario’s government says it is proposing to help more businesses save on their electricity costs in an effort to create more jobs.

The Industrial Conservation Initiative provides incentives for large electricity consumers to shift their electricity consumption to off-peak hours to save an average 15 to 20 per cent on their energy bills.

Proposed modifications to the ICI would reduce eligibility to companies with monthly peak demand greater than three megawatts, making the program available to hundreds of additional businesses.

The Industrial Electricity Incentive offers companies reduced electricity rates if they expand their operations and create jobs.

Starting this year, the government says broader eligibility for new applications will allow for participation from a wider range of companies.

Ontario-based small businesses will also be offered enhanced conservation programs in partnership with local distribution companies.

© The Canadian Press, 2014

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