OTTAWA – Environment Minister Steven Guilbeault has unveiled draft regulations aimed at facilitating the transformation of Canada’s electricity grid to cleaner sources of energy. While these regulations may lead to a slight increase in energy costs, government officials argue that such costs will be balanced out by the anticipated savings resulting from the transition away from fossil fuels.
The federal government has set a crucial goal of achieving a net-zero electricity grid by the year 2035, and the released regulations are intended to provide a roadmap towards achieving this ambitious target.
According to estimates from Environment and Climate Change Canada, the average annual energy bill for households across the country could increase by an amount ranging from $35 to $61 if these regulations are adopted. However, only about two percent of this increase can be attributed directly to the new regulations.
Unnamed officials, who provided a briefing to journalists, expressed confidence that any cost increases related to the regulations will likely be counterbalanced as individuals and communities shift away from fossil fuels for heating homes, cooking food, and powering vehicles. This transition to cleaner energy sources is expected to lead to reduced energy consumption and greater overall efficiency, thereby mitigating the impact on consumers’ wallets.
The Ministry of Environment and Climate Change has actively sought feedback on the regulatory framework for nearly a year and will now enter a consultation period for the draft regulations, which is set to last for 75 days. A finalized version of the regulations is anticipated to be published in January 2025, signaling the government’s commitment to a sustainable and cleaner energy future for Canada.