The Ontario Chamber of Commerce warns soaring electricity prices will see one in 20 businesses close in the next five years and it's suggesting homeowners should shoulder more of the burden.
The chamber says commercial electricity prices have risen 16 per cent since 2013 and are slated to climb 13 per cent over the next five years.
It's suggesting residential customers continue to pay 0.7 cents per kilowatt hour against the debt of the former Ontario Hydro. The debt retirement charge is to be phased out as of next January, saving homeowners about $70 a year.
Sarnia Lambton chamber President Rory Ring says the overall impact on the economy has to be taken into account.
[audio mp3="http://blackburnnews.com/wp-content/uploads/2015/07/Rory-1.mp3"][/audio]
The chamber is also asking the government to allow local utilities to merge, and to establish a competitive U.S. style "capacity market" structure for financing new electricity generation to ensure supply increases with demand.
