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This enactment establishes an Energy Price Commission to regulate the wholesale and retail price of motor fuels, including diesel and propane, as well as heating oil and electric power. The purpose of price regulation is to avoid unreasonable increases that affect the cost of living and depress business activity.
Existing supply contracts are exempt for the first year.
The enactment will facilitate reasonable consistency in prices from province to province, allowing for production and distribution costs. The regulation further minimizes the risk of collusion in pricing and prevents dominant suppliers from setting unreasonable prices.
The enactment also links the issue of price control to competition. Any investigation of an alleged offence under the Competition Act that is related to energy pricing is referred by the Competition Tribunal to the Commission for investigation and report to the Tribunal before the Tribunal makes a determination or order on the matter.
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