WYNNE LIBERALS POISED TO CUT SOARING HYDRO RATES BY 25 PERCENT: REPORT

Mar 01, 2017

By Jane Brown

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As her popularity sits at an historic low, Ontario Premier Kathleen Wynne is poised to cut hydro rates by 25 percent.

A published report says the plan will be finalized at her cabinet meeting today; a plan that will unveil sweeping measures to bring down soaring hydro bills.

The significant reduction in rates is said to come mostly by smoothing out the financing costs of electricity generation contracts over longer periods. It’s described as the equivalent of refinancing a mortgage to enjoy lower payments over a longer time on nuclear reactors, natural gas fired power plants and wind turbines.

NDP Leader Andrea Horwath was a guest on Zoomer Radio’s Fight Back with Libby Znaimer on Tuesday. She isn’t expecting the Liberals to be able to bring down hydro costs.

“The Liberals have gotten us into this mess in the first place and I don’t think that anybody trusts that they’re going to get us out of it, but I do have to say we’ll look at what the Liberals are going to bring forward. I hope that they look at what we brought forward and that they implement our plan because it will make an absolute difference for people, no doubt about it,” said Horwath.

The NDP plan would allow consumers to opt out of time of use pricing, cap profits for private power producers supplying the grid and return Hydro One to full public ownership by buying back shares.

The Zoomers’ Group CARP – A New Vision of Aging – is advocating for a break in skyrocketing hydro rates with the new Heat or Eat campaign. VP of Advocacy Wanda Morris recently met with Energy Minister Glenn Thibeault to express concerns voiced by CARP members.

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