Policy status:Superseded
Date Effective:2005
Policy Type:Economic Instruments>Fiscal/financial incentives, Policy Support, Regulatory Instruments
Policy Target:
Agency:Ministry of Finance
Funding:At least Cad 2 Billion
Description:enhancing energy market transparency and accountability. Direct Payments to Low-Income Families and Low-Income Seniors Payments under the proposed Energy Cost Benefit will be: -$250 to families entitled to receive the National Child Benefit (NCB) supplement in January 2006; -$250 to senior couples where both spouses are entitled to receive the Guaranteed Income Supplement (GIS) in January 2006; and -$125 to single seniors entitled to receive the GIS in January 2006. About 3.1 million payments totalling $565 million will be sent. Promoting Energy Efficiency, Conservation and Innovation in Houses and Buildings These measures include $500 million to provide direct financial assistance of between $3,500 and $5,000 to low-income households to defray the cost of items such as draft-proofing, heating system upgrades and window replacement under the new EnerGuide for Low-Income Households (EGLIH) program. For multiple-unit buildings and rooming houses, financial assistance will range between $1,000 and $1,500 per unit. Cost savings will average about 30 per cent per household. Additional measures to promote energy efficiency include: -$170 million to enrich the EnerGuide for Houses Retrofit Incentive program, which is similar to the EGLIH program but not limited to low-income families. This measure will result in almost 750,000 homes being retrofitted by 2010 instead of the 500,000 projected in Budget 2005?the last time this program?s funding was increased; -strengthening financial incentives for best-in-class energy-efficient oil and gas furnaces by an average of $150 per unit; -corresponding financial incentives, averaging $250 per household, for homes heated with electricity; and -increasing retrofit incentives for public sector institutions such as hospitals, schools, municipalities and provincial governments. In recognition of the growing importance of public transit in the face of rising energy costs, and to give municipalities greater certainty for their own planning purposes, Minister Goodale confirmed that $400 million, previously provided for under Bill C-48, will be freed up in each of the next two fiscal years for municipalities to boost investments in urban transit infrastructure. Enhancing Market Transparency and Accountability Actions to improve energy market transparency and accountability include: -creating the Office of Petroleum Price Information to monitor energy price fluctuations and provide clear, current information to Canadians. The Minister of Natural Resources will be accountable to Parliament for the Office; and -giving Canada?s Competition Bureau more powers and strengthening the Competition Act to deter anti-competitive practices. These changes will increase the fines for those convicted of price-fixing to $25 million from $10 million. They will also provide the Competition Bureau with the ability to assess the state of competition in particular sectors of the economy so the Bureau can act more quickly when it suspects anti-competitive behaviour. These measures complement Canadas framework plan Project Green. As announced, the Energy Relief initiatives aim to enable consumers to use energy more efficiently, reducing energy costs and greenhouse gas emissions and preparing Canada to honour its climate change commitments.

Last modified: Wed, 18 Jul 2012 15:41:44 CEST