Saturday, May 24, 2014

Cambridge Firm Pays Massive Global Adjustment Charge For Electricity

This article in Cambridge Now about Integrated Packaging Film's massive monthly electricity bill is quite interesting, especially since they included the actual bill. The actual electricity charges are 12K, which when everything is included (including HST) becomes 62.5K, including a global adjustment charge of 30.5K and a debt retirement charge just over $2,700. The debt retirement charge may disappear in 2016 (my prediction don't bet on it), but the high global adjustment charges are here to stay.

Has any economist done any research trying to estimate how many Ontario manufacturing jobs have been cost by high electricity prices? Because someone should. Ideally it would be interesting to compare to Quebec (which has an even larger manufacturing sector) since the recession as Quebec prices have stayed relatively low in comparison.

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