Ontario government says it will end Liberal Fair Hydro Plan, match rate increases to inflation

Click to play video: 'Doug Ford says he wants to reduce province hydro rates by 12 per cent'
Doug Ford says he wants to reduce province hydro rates by 12 per cent
WATCH ABOVE: Ontario Premier Doug Ford said that he wants to reduce the hydro rates in Ontario by 12 per cent. (July 11) – Jul 11, 2018

TORONTO – The Progressive Conservative government is introducing legislation that will put an end to the previous Liberal administration’s hydro plan while maintaining a 25 per cent rate cut.

Energy Minister Greg Rickford says the move will cut interest costs, though he did not say by what amount.

He also says it will not lead to an increase in hydro rates for consumers beyond the rate of inflation.

READ MORE: Customers could pay steep price for Ontario’s hydro plan, auditor warns

The government has previously said the Liberal plan drove up Ontario’s deficit by $1.8 billion in 2017-2018.

The Tories are also planning to upload electricity conservation programs to the Independent Electricity System Operator, a Crown corporation that manages Ontario’s electricity system.

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It says that move will result in savings of up to $442 million.

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