Nipissing MPP Vic Fedeli says Ontario’s budget watchdog confirmed today that the Ontario Liberal’s Fair 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.
Fedeli says this comes as no surprise because the PCs have been pointing out the countless holes in this scheme since day one. He says it’s time for the Wynne government to stop covering up the truth, because under their plan, hydro bills will go up and everything will cost more. Fedeli says this plan will have a devastating impact on household budgets and the economy.
Yesterday’s report confirmed that rates will rise right after the next provincial election, the Debt Retirement Charge is returning and will be four times higher, by 2028 rates will jump to even higher than what the leaked document suggested, and the plan will cost Ontarians up to $93 billion. The best case scenario will require the government to balance its budget every year for the next three decades and that will still cost $45 billion.
Fedeli concluded by saying once again, it’s clear to everyone this has nothing to do with making life more affordable, and everything to do with Kathleen Wynne’s re-election.
