Federal tax changes could result in higher gas and electricity costs

Canada’s electricity agency is worried about a new tax change that could make some private utilities pay millions more in taxes.

Michael Powell, who is the vice-president of government relations, says that some private electricity and natural gas companies may have to raise the prices they charge customers.

He says the issue comes from a change to the Income Tax Act that the government wants to make in its upcoming budget.

This would make Canada have the same tax rules for companies as the United States, the United Kingdom, and Ireland when they do business in more than one country.

But Powell says those countries did not include private utilities that are regulated by the government because they often have to borrow more money to keep their prices low.

The new rule would make people with a lot of debt pay more in taxes.