It will be Timmins MPP Gilles Bisson's third attempt to pass a bill aiming to regulate the price of gas in the province.
With a recent six-cent spike bringing prices to as high as $1.75 in Timmins and other areas, the New Democratic Party (NDP) politician is hoping the Ford government will change its tune, after letting the bill die during Bisson's last attempt.
"You can buy a case of beer in Cornwall for the same price as Kenora, but you pay gas in Toronto at $1.50 and today you pay $1.70 in Timmins, that just doesn't make any sense," Bisson said at a virtual news conference Wednesday.
"The best way to deal with that is by regulating... We regulate natural gas and we regulate electricity, certainly, we're able to do something about the price of gas."
Bisson's bill would have the Ontario Energy Board regulate gas prices based on the rack pricing of oil at the Port of New York. That, he said, would prevent gas companies from spiking prices over long weekends and equalize pricing between communities.
With both the progressive conservative government and the previous Liberals failing to see the bill forward, NDP Leader Andrea Horwath said this bill is still a critical solution to solving gas price gouging. And with an election looming, she said this could be the chance to get the bill through Queen's Park.
"We believe that making things fair, protecting consumers, standing up to big oil and gas companies -- who are gouging consumers -- is something that can be done," said Horwath.
Petroleum analysts predict that prices will only surge higher, particularly amidst the Russian invasion of Ukraine that's expected to reduce global supply, along with a shortage of domestic production.
Analyst and affordable energy advocate Dan McTeague said with pumps expected to see an increase of seven cents in the near term and another 10 cents when the federal carbon tax increases on April 1, he doesn't think regulation will solve the issue.
"Here's my suggestion and take it or leave it; build a pipeline. You'll likely see the Canadian dollar save consumers 17 cents a litre—that would be bringing Timmins down to $1.58," said McTeague.
"Drop the carbon tax, that's another 10 cents a litre— that's $1.48. And I think in that context, a little more scrutiny as to who's making what, where."
Reducing gas taxes would be an immediate short-term solution to rising gas prices, he said.
NDP officials, however, claim that would only lead to higher profit margins for gas companies and take away funding from other government services like education and healthcare.
Faced with questions over how other provinces' attempts at gas price regulation haven't led to major savings, Bisson said his plan would cool down a rising market and prevent surprise spikes.
"What clearly is going on is gas companies are taking advantage of the Ontario market and we have an opportunity to do something about it," Bisson said.
