Ontario Plans to Ease Electricity Connection Costs for New Homes
The Ontario government has announced plans to address the rising costs associated with connecting new homes and businesses to the province's electricity grid. This initiative aims to ease the financial burden on future homeowners and investors by simplifying the process of making 'last mile' connections to the grid.
According to the Independent Electricity System Operator, Ontario's electricity demand is expected to increase by 75% by 2050. The government plans to introduce legislation that, if passed, will amend the Ontario Energy Board Act, 1998. This amendment would allow for regulatory changes to protect existing ratepayers while reducing the upfront capital costs of new electricity lines, which currently increase costs for new homes and businesses.