Ontario adds 25% surcharge to all electricity exported to the United States

Ontario Premier Doug Ford had promised an export tax on electricity sold to the United States and now he’s delivered.

No one is winning in the tariff war at the moment, particularly in financial markets.

Ontario exports enough electricity to power about 1.5 million US homes with power flowing to Michigan, New York and Minnesota. The tax will add a change of $10 per megawatt-hour.

Ford said he wouldn’t hesitate to raise the charge or cut off exports altogether.

This article was written by Adam Button at www.forexlive.com.