For the first time ever, the high cost of energy is the number one issue among local companies as the region struggles to compete with jurisdictions that have much lower rates.
Now, Windsor-Essex Regional Chamber of Commerce President and CEO Matt Marchand is making a plea to the province to make hydro cheaper. "Right now we're about 12 or 13 cents (per kWh) depending on what the operation is and in Michigan and Ohio it's probably one-third of that," he says. "So you're talking about a serious price gap."
Marchand says although hydro is the main cost, it's not the only thing deterring investment. "When you combine it with the proposed carbon tax and combine it with the Ontario Pension Plan that's coming and the regulatory environment, it certainly puts our already strained competitive position at serious risk."
Gail Bishop with the Chatham-Kent Chamber of Commerce echoes the same sentiments.
"The price of electricity in Ontario is set to rise over the next two decades, adding to the cost of doing business in the province," she says. "If something is not done now to mitigate these increases, businesses will leave the province, jobs will be lost, and our economy will suffer. "
The chamber is making five recommendations that they say must be taken to curb energy costs.