OTTAWA, Aug. 17 /CNW Telbec/ - The Chemistry Industry Association of Canada supports the Ontario government's move to adopt a new formula for the Global Adjustment - the levy charged to electricity consumers to cover the cost of generation, transmission and distribution.
Under the proposed new formula, the levy would be based on a customer's consumption during the five peak-demand days of the year, rather than the total volume of electricity used. This means that electricity prices would rise when demand is high and fall when demand is low.
"We believe this plan can be win-win for both manufacturing and the environment," says Richard Paton, President and CEO of the Chemistry Industry Association of Canada.
The proposed change to the Global Adjustment would provide businesses with an incentive to manage their electricity use more responsibly, particularly on the hot, smoggy days that place the biggest strain on Ontario's grid. Furthermore, it would result in more controllable electricity costs for Ontario manufacturers, which would give a much-needed boost to their global competitiveness, helping to attract new investments and jobs to the province.
As the voice of the chemistry sector, the third largest manufacturing sector in Ontario, the Chemistry Industry Association of Canada is part of a coalition of industry groups that strongly supports Ontario's changes to the Global Adjustment electricity levy.
SOURCE Chemistry Industry Association of Canada
For further information: For further information: Dave Podruzny, VP, Business and Economics, Chemistry Industry Association of Canada, (613) 237-6215 x 229