Ontario Energy Minister Glenn Thibeault spoke Friday morning to members of the Peterborough Chamber of Commerce.
Thibeault said his government inherited an electricity infrastructure that needed repairs, improvements and upgrades to the tune of $50 billion.
He said he regrets the cost of a secure electricity system for the future has fallen to Ontario residents of today.
He also noted his government has not done a good enough job in informing Ontarians of the programs in place under the Fair Hydro Plan to help them deal with rising electricity costs.
Several attendees at the lunch meeting urged the minister to listen closely to businesses that are struggling with high energy costs.
“Our members continue to have concern the costs of electricity are undermining businesses’ capacity to grow, hire new workers and remain competitive in the province,” said Andrew Thiele, a policy analyst with the Ontario Chamber of Commerce.
Later the minister toured the Neal Drive offices of Dynacast, a precision die-casting company currently taking part in the province’s industrial conservation initiative.
The program sees businesses move their electricity use to off-peak hours when rates are lower. Thibeault says this can reduce their energy costs by up to a third.
“Through the energy saved through this program, we’re able to defer the need to build expensive new peaking energy facilities,” Thibault said.