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.
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He also says it will not lead to an increase in hydro rates for consumers beyond the rate of inflation.
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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.
It says that move will result in savings of up to $442 million.
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