TORONTO – Premier Kathleen Wynne and Energy Minister Glenn Thibeault are set to tell electricity ratepayers today how the Liberal government plans to reduce their bills.
The Toronto Star reported Wednesday that the plan is to slash soaring hydro bills by 17 per cent largely by paying the costs of electricity generation contracts over longer periods.
READ MORE: Ontario to slash hydro bills by 25%, but could cost consumers more in the future
The move would be akin to refinancing a mortgage and is on top of an eight per cent rebate that took effect Jan. 1.
Thibeault wouldn’t say Wednesday whether relief would come all at once or in phases.
READ MORE: Ontario Liberals to cut hydro bills by 25 per cent: report
Thibeault says it could take some time to take effect, if regulatory changes or legislation are needed, but adds it could perhaps be made retroactive.
Progressive Conservative Leader Patrick Brown says the reported plan would just shift costs from people’s hydro bills to tax bills.
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