Bad news for drivers and homeowners as the price of gas and natural gas is set to rise in Thursday’s provincial budget.
Premier Kathleen Wynne says her government’s cap and trade plan will add about $5 a month to natural gas bills and 4.3 cents a litre to the price of gas.
More details of the plan are expected to be released in tomorrow’s budget.
Wynne says there will be no increased cost to electricity in the industrial and commercial sector and residential electricity costs might actually go down.
The rise in gas and natural gas prices is expected to take effect next January and the government predicts it could raise $1.3 billion if the first year.