HYDRO RATE REDUCTION PLAN SEEN AS SHORT-TERM GAIN, LONG-TERM PAIN
Mar 02, 2017
By Bob Komsic
Starting this summer, when air conditioners are normally working over-time, hydro bills will be cut on average a further 17%.
While it’ll mean a break now for many residents and small businesses, the premier and opposition parties agree it’ll be a case of kicking the can down the road when the next generation picks up the tab.
Premier Kathleen Wynne concedes it will cost more over time.
”And it will take longer to pay off. That’s also true. But is is fairer, because it doesn’t ask this generation of hydro customers alone to pay the freight for everyone before and after.”
The savings now are being done through refinancing of generation contracts over longer terms that’ll mean up to $1.4-billion-a-year in extra interest.
NDP energy critic Peter Tabuns says the bill will come due another day and ”it will be a very big bill.”
WandaMorris of the Zoomers advocacy group CARP met with Energy Minister Glenn Thibeault last week and was asked by Zoomer Radio’s ”Fight Back” guest host Jane Brown if perhaps the group was able to pressure the government to act.
”I think only the premier knows for sure, but, no doubt when we met with Mr. Thibeault and shared the results of our ‘Heat or Eat’ petition and let him know 98% of CARP members vote, I think our position really did have a lot of weight with them (government). And when I look at what’s announced this morning I see so much of what we asked for being reflected here. So I’m really pleased with that.”