Ontario slams brakes on deregulation

Rising wholesale prices are forcing regulators in Ontario into a reworking of the Canadian state’s fledgling deregulation process, which critics say may lead to a California-style meltdown.

Wholesale power prices have risen by almost 25% since Ontario opened its market to competition on May 1, 2002. The state government is proposing a retail price cap to protect consumers, but allowing wholesale prices to be determined by the market.

However, power companies say the move will kill

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