Ottawa motorists will be paying three cents a litre more to fill up the gas tank on Monday, when the federal carbon tax hike kicks in.
As of April 1, the federal government is increasing the price on carbon pollution by $15 per tonne to $80. The federal carbon tax will be 17.71 cents a litre on gas in Ontario.
Canadians for Affordable Energy President Dan McTeague says the average price of regular gasoline in Ottawa will increase three cents from 159.9 cents a litre to 162.9 cents a litre on Monday.
Motorists will also see a 3 cent a litre hike in Kingston and across eastern Ontario.
One year ago, the average price of gasoline in Ottawa was $1.43 a litre, according to www.ottawagasprices.com.
The federal government established the price on pollution in 2019, saying on its website that “pricing carbon pollution is one of the most effective ways to reduce the greenhouse gas emissions that cause climate change.” The federal government says individuals and families will receive the Canada Carbon Rebate payments every three months, where the federal system applies. Starting in April, a family of Ontario will receive a Canada Carbon Rebate of $1,120 a year.
Ontario Premier Doug Ford, federal Conservative leader Pierre Poilievre and several premiers have called on the federal government to cancel or delay the planned carbon tax increase.
“This tax is costing hardworking people more money to drive, to work, or drop off the kids to hockey practice,” Ford told reporters last week.
“It’s going to increase the cost of everything. It’s going to hurt every single person in Ontario.”
Ontario has also extended the existing gasoline tax cut of 5.7 per cent until December 31, 2024.
Axe the Tax Rally
Ottawa police and the city of Ottawa are warning the public to expect possible traffic delays in downtown Ottawa on Monday due to a protest.
According to a post a Facebook, a rally will be held at the Macdonald-Cartier Bridge as part of a “Nationwide Protest Against the Carbon Tax.” There will also be a rally on Parliament Hill
“The City of Ottawa and the Ottawa Police Service are aware of planned demonstrations on Monday, April 1 that could potentially impact traffic on the Macdonald-Cartier Bridge at King Edward Avenue during the morning commute,” the city said in a statement.
“The City of Ottawa and the Ottawa Police Service work together with municipal and federal partners to manage traffic, transit and public safety for demonstrations.”
Officials warn there may be temporary road closures in the downtown core during a march Monday afternoon.
With files from CTV News Toronto’s Katherine DeClerq
CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.
Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.
TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.
The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 7, 2024.
BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.
The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.
On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.
“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.
“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”
Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.
BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.
The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.
BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.
It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.
The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”
Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.
This report by The Canadian Press was first published Nov. 7, 2024.
TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.
The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.
Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.
On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.
In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.
It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.
This report by The Canadian Press was first published Nov. 7, 2024.
