Summary
Today Minister Greg Rickford and Minister Walker announced additional support for industrial and commercial electricity consumers who participate in the Industrial Conservation Initiative (ICI) program.
Today’s action to implement an “ICI Peak Hiatus” will allow Class A electricity consumers, large companies who employ thousands of Ontarians, to focus on returning to full production this summer.
Key Messages
• Our government is committed to stabilizing the hydro system and showing Ontarians the true cost of electricity.
• Today we announced our government is helping large industrial and commercial companies return to full levels of operation without the fear of electricity costs spiking by providing stable electricity pricing for two years.
• Effective immediately, companies that participate in the Industrial Conservation Initiative (ICI) will not be required to reduce their electricity usage during peak hours, as the proportion of Global Adjustment (GA) charges for these companies will be frozen.
• We’re introducing the “ICI Hiatus” program to support large industrial companies get back up and running by delivering stability and cost certainty as the province gradually and safely restarts the economy.
• These measures will freeze the proportion of GA charges for current ICI participants and temporarily lift their incentive to sporadically shut down operations on hot summer days during peak demand, providing Ontario’s largest employers with up to 40 additional operating days this summer.
• This will allow companies to run 24/7 without fear of electricity costs spiking.
• Due to COVID-19, electricity consumption in Ontario has been below average and the province is forecast to have a reliable supply of electricity to accommodate increased usage.