Minister Smith Introduces the Keeping Energy Costs Down Act

Today, the Ontario government introduced legislation that, if passed, would reverse a December 2023 decision by the Ontario Energy Board (OEB) that would have significantly increased the costs of building new homes across the province. Reversing this decision will prevent an average of $4,400 being added to the price of new homes, or tens of thousands of dollars being added to the price of a home in rural Ontario.

While previous governments presided over skyrocketing energy prices, we’re using every tool in our toolbox to make life more affordable. The Keeping Energy Costs Down Act will protect future homebuyers and keep shovels in the ground on critical infrastructure projects.

Since day one our government has delivered policies to keep energy costs down including scrapping the cap-and-trade carbon tax, cutting the gas tax and introducing the Ontario Electricity Rebate.

While the previous Liberal government presided over skyrocketing electricity rates that chased 300,000 manufacturing jobs out of the province, we’ve lowered costs to build new homes and power our growing economy.

The Keeping Energy Costs Down Act would reverse an Ontario Energy Board decision that would have increased the cost of new homes across the province by thousands of dollars.

The proposed legislation would also require the Ontario Energy Board to conduct more public engagements so future decisions reflect and support the priorities of the people of Ontario, including keeping energy prices down.

As energy demand continues to grow across Ontario our government will continue to work hard to ensure a reliable supply of energy continues to be available for all Ontarians – now and in the future.