00:00It's Benzinga bringing Wall Street to Main Street.
00:02Ontario imposed a 25% electricity price hike on exports to Minnesota, Michigan,
00:07and New York, according to Bloomberg.
00:09Ontario Premier Doug Ford stated that he regrets raising electricity prices,
00:13but blamed President Donald Trump for the necessity of the decision.
00:16The electricity price hike may be largely symbolic,
00:19as U.S. buyers can source power from multiple suppliers in the spot market.
00:24New York sourced over 4% of its electricity from Canada in 2023,
00:28while Minnesota and Michigan imported even less.
00:30Ontario expects the surcharge to generate over $270,000 daily
00:35to support Canadian workers, families, and businesses.
00:38For all things money, visit Benzinga.com slash GSTV.
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