Wynne Government’s Unfair Hydro Plan an Election Ruse: FAOMay 24, 2017
North Bay- Ontario’s budget watchdog confirmed today that the Wynne government’s Unfair Hydro Plan will actually see hydro rates climb starting next year. Financial Accountability Officer Stephen LeClair’s analysis confirms that Ontarians will get a jolt of financial pain in the short and long term. Electricity rates will be going up, and Ontario will be saddled with huge costs for decades to come.
“This comes as no surprise. The Ontario PC Party has been pointing out the countless holes in this scheme since day one,” said Ontario PC Finance Critic Vic Fedeli. “It’s time for the Wynne government to stop covering up the truth – under their plan, our hydro bills will go up and everything will cost more. This plan will have a devastating impact on household budgets and the economy.”
Today’s report confirmed that:
- Rates will rise right after the next provincial election
- The Debt Retirement Charge which people remember from their bills is returning (four times higher)
- By 2028 rates will jump to even higher than what the leaked document suggested
- The plan will cost Ontarians up to $93 billion – and the best case scenario, which will require the government to balance its budget every year for the next three decades, is this plan’s cost will be $45 billion.
“Once again, it’s clear to everyone that this has nothing to do with making life more affordable, and everything to do with Kathleen Wynne’s re-election,” Fedeli concluded.