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Doug Ford promises to cut hydro rates, save average ratepayer $173 a year

Ontario PC Leader Doug Ford makes a campaign stop in Kingston, Ont., on April 17, 2018.
Ontario PC Leader Doug Ford makes a campaign stop in Kingston, Ont., on April 17, 2018. CKWS

KITCHENER, Ont. – Doug Ford is promising to cut hydro rates by 12 per cent if he wins Ontario’s spring election.

The Progressive Conservative leader says he will cut rates through a variety of measures that would save the average ratepayer $173 a year.

READ MORE: PC Leader Doug Ford pledges commission of inquiry into government spending

The Tory plan would see the government give ratepayers the dividends it gets from its share of the partially privatized Hydro One.

It would also shift the cost of energy conservation programs from hydro customers to the tax base.

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Ford also says he would also place a moratorium on new energy contracts and renegotiate existing deals where possible.

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Ford has criticized the Liberal government’s Fair Hydro Plan, which borrows billions to reduce rates by 25 per cent, and has vowed to review it. But he says the Tory plan would be in addition to the Liberals’ rate cut.