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Hydro bills set to drop, but will come at a cost

A new legislation introduced by the government will reduce hydro bills for the next ten years.
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Kathleen Wynne

THUNDER BAY -- The Wynne government has introduced new legislation that will mean lower hydro bills for Ontarians for the next decade, but it will come at a cost.

The legislation provides for the lowering of time-of-use rates and removing the cost of low-income and rural support programs from hydro bills.

The program is to be overseen by Ontario Power Generation, which will finance the cost difference by taking on debt.

Once the ten years expires, the cost of paying back the debt will be added back on to ratepayer’s bills.

It's estimated that cost could total as much as $28 billion.

(TBT News)



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