Hydro savings coming

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It looks like the Provincial Liberals are making a political power play to try and lighten the financial load of your hydro bill, but some say a 25% cut isn’t enough.

The Wynne government’s leaked plan to reduce hydro rates involves stretching out the financing costs of electricity generation contracts, similar to refinancing a mortgage to have lower payments over a longer period of time. The opposition calls it a shell game.

“We saw it with the clean energy rebate being replaced with the HST rebate while people’s bills still go up. The latest leaked plan suggests that the cost from your hydro bill will shift to your tax bill.” Patrick Brown.

Premier Kathleen Wynne’s popularity has dropped to an all time low and with an election coming next year, Peter Graefe, a political science professor at McMaster University says this plan is too little too late.

“Ontarians will get a sense that they are being bribed with their own money. To be able to lower these rates, it has to come from somewhere.”

The Premier will officially announce the new hydro plan tomorrow.