The Progressive Conservative government is introducing legislation that will put an end to the previous Liberal administration's hydro plan while maintaining a 25 per cent rate cut.
Ontario's Energy Minister Greg Rickford speaks during a press conference at Queen's Park in Toronto on Monday, Dec. 17, 2018. THE CANADIAN PRESS/Frank GunnLast Updated Thursday, March 21, 2019 7:04PM EDT
Energy Minister Greg Rick Ford said hydro rate increases will be held to inflation, and noted that the government remains committed to its election campaign promise of lowering rates a further 12 per cent, although he did not have a timeline for that goal.The Liberals brought in their Fair Hydro Plan in 2017 to address a public outcry over soaring hydro rates, particularly in rural areas.
NDP energy critic Peter Tabuns said the Tory plan will still require the province to take on billions in debt to lower hydro rates. "Tweaking the existing electricity structure will not fix the hydro mess," he said. "They're going to borrow over $4 billion to subsidize electricity bills that disproportionately benefits the wealthy. They should be saving that $4 billion, investing some of it support for low income, rural, and remote communities and using the rest to balance the budget."
The government would also discontinue programs that include rebates for energy-efficient heating and cooling equipment, and discounts for buying energy-efficient products such as LED light bulbs. It would also eliminate incentives for builders to improve energy performance in new residences.
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