Average rent increase in Toronto  and guidelines
Increases             guidelines
2008 - 1.6%            1.4%
2009- -2.0%           1.8%
2010 - 1..8%            2.1%
2011  - 1.8%             0.7%
2012 - 2.9%             3.1%
2013 - 3.1%              2.5%
2014 - 2.6%             0.8%
2015 - 3.2%              1.6%
2.016 -  3.1%             2.0%
Hardly soaring, and these averages include the rents of new buildings which are naturally higher since the cost of building in Toronto has soared.
Source: CMHC Primary Rental Survey and Mistry of Housing
Now compare those rent increases with electricity price which are controlled by the government.