Ontario, Canada imposes a 25% surcharge on electricity exports to the U.S., energy sector rises against the trend

The government of Ontario, Canada, has officially implemented a 25% surcharge on electricity exports to the United States as a countermeasure to the U.S. trade war. This policy will increase the cost for power generators exporting electricity to the U.S. by $10 per megawatt-hour, expected to bring an additional revenue of $300,000 to $400,000 per day to Ontario. The Ontario Minister of Energy has called for cooperation between Canada and the U.S. to promote trade relations. Despite the U.S. imposing tariffs on Canadian goods, Ontario has decided to maintain the surcharge policy. Meanwhile, the energy sector has risen against the backdrop of a sharp decline in U.S. stocks