Ontario is urging the federal government to amend proposed electricity regulations after an analysis by the province’s system operator concluded the rules would mean $35-billion in additional costs by 2050.

A new analysis by the Independent Electricity System Operator looking at upcoming regulations around restrictions on emissions from electricity generation found that Ontario would have to add twice as much new generation as it is already planning, which is “not feasible” in that time frame.

But if the province were to somehow do so, building enough new electricity generation to make up for restrictions on natural gas would add $35-billion in costs by 2050, increasing residential bills by $132 to $168 per year starting in 2033, the IESO said.

Oil prices were steady on Monday, as optimism around strong factory activity in China was largely offset by concerns that the U.S. Federal Reserve will not cut interest rates again at its December meeting.

Brent crude futures slipped 8 cents, or 0.13 per cent, to $71.75 a barrel by 12:40 p.m. EST (1740 GMT) while U.S. West Texas Intermediate crude eased 3 cents, or 0.04 per cent, to $67.99.