Ontario Energy Minister, Todd Smith - Acadia Broadcasting File Photo
A decision made by Ontario’s Energy Board has a member of the Ford cabinet pledging to step in.
According to Energy Minister Todd Smith, the decision by the OEB would increase the cost of construction of new homes by tens of thousands of dollars, by reducing the period of time spread out for the cost of installing new natural gas connections.
Normally, they would be paid over the course of four decades but the decision would bring them upfront instead.
Smith calls the decision “extremely disappointing”, adding he has concerns it could negatively impact the construction of new homes, during a time where they are critically needed.
“At a time when Ontario, like the rest of Canada, is already dealing with the difficult headwinds of high interest rates and inflationary pressures, the Ontario Energy Board’s decisions would slow or halt the construction of new homes, including affordable housing. ”
As a result, Smith says he will be using his powers to pause the implementation of the decision and introduce legislation at Queen’s Park, which if passed, would reverse it.
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