Ontario Government Announces Hydro Rates To Be Reduced By 17%

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Air conditioning this summer is about to get a little cheaper if you live in Ontario.  This morning, the Premier announced that they are refinancing building and upgrading of power plants along with some of the other costs that attached to our bills.  Admitting that hydro bills are too high for many Ontario residents, there will be an average reduction of 17% on most bills starting with June usage – just in time for those summer cooling bills!  This is on top of the recent savings of 8% by cutting the provincial portion of taxes on bills.

While many bills have arrived with small discounts, the tax reduction only included actual usage and not just billing from January 1st so bills arriving this month should see the full discount.  With most electricity providers moving to monthly billing this Spring as required by the recent decisions on hydro rates, we should start seeing the full 25% discount on bills in July.

It will probably cost us more in the long term, refinancing means it needs to be paid back at some point but for those struggling to pay their bills, it may be a welcome break.  Officials say the maximum amount of interest per year would be $1.4 billion, with those interest costs to be paid by hydro customers in future years – so don’t get used to the discount, it may disappear after the next election!


One response to “Ontario Government Announces Hydro Rates To Be Reduced By 17%”

  1. Kevlar says:

    Too little, too late. Wynne has to go. It’s not just electricity rates with hydro, it’s their ridiculous delivery charges as well. Also, Wynne’s absurd carbon taxes on gas, oil and fuel which, ultimately, will benefit no one.


















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