Hydro Bills To Be A Little Leaner In June

Premier Kathleen Wynne confirmed the speculation this morning: hydro rates will come down an average 25 per cent for Ontario consumers in June. This includes the 8 per cent rebate announced at the start of the year. What the government has done, essentially, is remortgage its hydro debt to pay it off over a longer period. What this means is we’ll have to ‘pay the piper’ one day – but that day is several years off, allowing for immediate relief. In addition to the 25 per cent rate cut, Wynne said increases over the next four years will be tied to inflation. The opposition is not thrilled with any of this, bemoaning the fact future generations will have to shoulder the cost of past foibles, and that multi-million dollar executive salaries and bonuses in the power industry were not addressed. Click here for more on Ontario’s Fair Hydro Plan.