Ontario gives northern industry permanent relief from energy costs
The Northern Industrial Electricity Rate Program will carry on indefinitely, province says
First introduced in 2010, the program is a benefit to companies such as Resolute, Goldcorp, AV Terrace Bay, and North American Palladium, Gravelle said.
"It positions them to certainly be able to maintain operations but also potentially expand and create more jobs," he added.
The program can help cut up to 25 per cent from energy costs incurred by qualifying businesses.
Significantly reduces costs
"It reduces our costs significantly on our site," said Goldcorp's Musselwhite mine general manager Bill Gascon.
"Our second highest cost on our site in production is energy — behind labour — so it's huge for us. We're a very energy intensive industry."
"The program puts Ontario on a footing where we can compete with other jurisdictions, not only in Canada, but in the U.S. and also elsewhere in the world, where we market our newsprint," Garneau told CBC.
"It means jobs. It means business. It means better planning. It means that they're going to be able to finance school and university and college."
The guaranteed funding, he said, also means the company is in a better position to plan for the future.
"When you don't know how long it's going to last," he added, "you're just cautious."