The Owen Sound Chamber of Commerce is calling on the province to clarify the implications of the sale of Hydro One.
The Owen Sound chamber has joined a coalition of 36 Ontario Chambers in a call for evidence that electricity prices will not go up.
Chamber CEO Peter Reesor says rising electricity prices have put Ontario businesses at a competitive disadvantage.
Reesor adds,“Rising electricity prices is a collective concern and have put Ontario businesses at a competitive disadvantage,” said Peter Reesor, CEO of the Chamber. “It is important to recognize that electricity represents a significant cost to employers. As the government moves forward with the sale of Hydro One, it is essential that it works to ensure that business operation in Ontario remains affordable by containing electricity costs.”
The Ontario Chamber of Commerce says one in twenty businesses will either close or move out of the province if rising rates continue.
It says electricity rates have jumped 16 per cent since 2013, and are expected to go up another 13 per cent in the next five years.
Reesor says the government needs to ensure that selling off 60 per cent of the public utility does not increase the burden on businesses.
"The Ontario Chamber Network is concerned that the sale of Hydro One could adversely affect the cost of doing business in the province by adding to the rising price of electricity,” said Peter. “As such, we are seeking detailed clarification from the government on how the sale will impact electricity prices.”