Ontario's financial accountability officer states that the Wynne’s Liberals hydro plan could end up costing Ontarians up to $93 billion more if this plan is financed. The best case scenario is it will cost Ontarians $45 billion more if Ontario can manage to balance the budget for the next 30 years. What this means is we are going to be paying a lot more money for hydro in the long run for a very short period of relief on a pre- election bribe.
What Premier Wynne failed to tell everyone is that Hydro One has applied for a large rate increase on distribution rates,disconnections / reconnections
removal of load limiters,account collections and access to their poles all increased , in 2018 a $2.79 per month increase- 2019 a $2.47 per month increase -2020 a $ 2.31 per month increase - 2021 a $1.95 per month increase and 2022 a $2.23 per month increase then we will have other rate increases. The OPG has also applied for a 69% increase to produce nuclear power by 2022. Tis would add a further $5.25 a month to our hydro bill, a decision on this rate increase will come later this year, the increases will keep coming each year
Premier Wynne stated our rates would be tied to inflation for four to five years Do the math here people, how can Premier Wynne say she is going to temporary subsidize 25% of our hydro bill when our rates continue to rise.
This Liberal plan does nothing to lower our cost per kilowatt-hour on our hydro bill or to produce hydro, so what is the true cost of this failed energy experiment when you add everything up?
While Premier Wynne preaches her Fair Hydro Plan, I ask you: Is this fair that Ontario has the highest hydro rates in North America? In 2003, Ontario owned 100 per cent of Hydro One In 2017, we only own 40% now due to Premier Wynne selling 60% of it. The CEO of Hydro Quebec who is also the president of Quebec Hydro makes roughly $558.149 in total pay. The CEO of Hydro One, with a smaller customer base, makes roughly 4.5 million dollars a year
In 2003, hydro was 4.3 cent a kWh all day long, before the Liberals came to office. Under the Liberals our rates have risen roughly 225 percent and they continue to rise so a 25 percent temporary subsidy is nothing as this Liberal plan will hurt us even more than doing nothing as they fail to see we must produce affordable kWh hydro and not a pre-election bribe of temporary subsidy that gets added on to our provincial debt and future hydro bills.
Sources:
Ontario will spend $45 billion to save ratepayers $24 billion on their electricity bills, watchdog says.
TORONTO — Ontario’s budget watchdog says the Liberal government will spend $45 billion over the life of its hydro plan to save people $24 billion on their electricity bills.
A report from the financial accountability officer says this means there will be a net cost of $21 billion to Ontarians over the approximately 30 years of the plan.
Ontario Energy Board notice to customers of hydro one networks inc.
Hydro One Networks Inc. has applied to the Ontario Energy Board to raise its ... Hydro One Networks Inc. has also applied for new service charges and for adjustments to many of its specific service charges, including increases to charges for.
Hydro One CEO's $4.5M salary 'not part of equation' of hydro cost cuts ...
TORONTO - Ontario’s cabinet minister in charge of government purse strings says the $4.5-million pay received by Hydro One’s CEO is “not part of the equation” of cutting electricity costs for consumers.
Treasury Board President Liz Sandals made the remarks on the eve of the release of the Sunshine list, which sets out the salaries of all public-sector employees making $100,000 or more.
