But should water be a commodity at all?
Today, Nestlé pays just $3.71 per every million litres of water the company pumps out of the ground in Ontario, so that it can bottle it and then and sell it back to thirsty customers for profit. But that won’t last for much longer.
The provincial government, which sets the price rates for water, is set to propose a sharp increase in the amount that companies like Nestlé pay, the Canadian Press reported on Wednesday. The proposed fee will be $503.71 per million litres of water, an increase of roughly 13,500 percent.
Nestlé is licensed to pump 4.7 million litres of water per day from two sites in Ontario, meaning that the company will now pay $2,367 for the water it takes every day, instead of the paltry $17.50 it pays now.