TORONTO, Ontario, Canada — Hydroelectricity could help create new jobs in Ontario’s industrial sector following implementation of the province’s Industrial Electricity Incentive program.
The plan, implemented by Ontario Premier Dalton McGuinty, will allow eligible companies to qualify for reduced power rates if they create new jobs and bring investments to the province.
Ontario currently exports its surplus hydroelectric power to neighboring provinces and states, so the program would be a revenue-generating venture, officials say.
Energy Minister Chris Bentley says details concerning rates will be announced in the fall and that it should begin at the start of 2013.
New companies must make a minimum investment of about US$250 million to be eligible, while existing companies must show significant expansions to their operations.
HydroWorld.com reported in May that the Canadian government is attempting to streamline the development process for Canadian hydropower.