Environment Minister Steven Guilbeault is expected to announce the country's draft clean electricity regulations today.
The regulations would drive up the cost of energy slightly, but federal officials say that would be offset by the savings expected to come from moving away from fossil fuels.
The government plans to cover up to half of the cost of the regulations through tax credits, low-cost financing and other funds, which could mean even less cost is passed onto consumers, Guilbeault said at a press conference in Toronto. "Shifting to clean electricity saves households on their energy bills, away from the shocks of yo-yoing gas and oil prices," Guilbeault said.
The ministry has been seeking feedback on the regulatory framework for nearly a year and will consult on the draft regulations for 75 days, with a final version expected to be published in January 2025. "They want to know what the rules of the game will be, and that's exactly what we're doing. We're giving them a lot of time to prepare."
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