Newspaper article The Canadian Press

Promises from Ontario's Three Main Political Parties on Hydro Bills

Newspaper article The Canadian Press

Promises from Ontario's Three Main Political Parties on Hydro Bills

Article excerpt

Election promises on hydro bills

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Here's a glance at some promises Ontario's three major political parties have made on hydro prices:

LIBERALS: Implemented the Fair Hydro Act, adopted in 2017 to lower hydro rates by an average of 25 per cent, following rising anger at the Liberal government over high prices. The plan partly lowers rates by letting customers off the hook for a portion of the global adjustment -- a charge consumers pay for above-market rates to power producers -- for the next 10 years. In the meantime, producers will continue being paid the same, so Ontario Power Generation has been tapped to oversee the debt used to pay that difference. Auditor General Bonnie Lysyk has accused the province of underestimating and misrepresenting the financial impact of the plan and shifting the increased cost to a new generation of rate payers. …

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