Budgeting for Canada’s Federal Carbon Tax

What is the Federal Carbon Tax?

The carbon tax is applied to your natural gas bill as a tax on the greenhouse gas emissions associated with burning the fuel. The federal carbon tax is applied to provinces that do not already have their own carbon tax system in place, which includes Ontario, New Brunswick, Saskatchewan and Manitoba. Funds collected from the carbon tax will be used to fund energy savings measures in each province that pays the tax.

It is also important to note that electricity generated for the grid that is provided by fossil fuels like coal and natural gas plants may also pay the carbon tax. This could lead to increased electricity prices depending on the efficiency of the fossil-fuel based generation in the province and what percentage of the province’s overall electricity generation is derived from fossil fuels.

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Ontario’s Current Top 5 Peaks and Other Interesting Insights

We recently downloaded the IESO’s hourly data that contains the entire province of Ontario’s electricity demand numbers from Jan 1 to July 31, 2019 – the data can be downloaded here. We were originally looking to download the data to analyze the top 5 July 2019 peak event days, but thought it would be interesting to do a whole 2019 data review using our REA platform for data visualization and insights. Below is a general review covering annual patterns, weekday/weekend activity, a review of the current top 5 provincial peak days (all occurring in July), and an interesting cost analysis.

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