1.03.09 - “Cutting hydro rates by 12% for families, farmers, and small businesses, saving an average family over $170 a year”
According to Ontario’s Financial Accountability Office, the average ratepayer’s bill increased by 4.3 per cent from 2018 to 2021 and will continue to increase by two per cent each year. The promise is therefore broken.
“Ontario’s Progressive Conservative government will not fulfill its 2018 election promise to lower electricity bills by 12 per cent, however the government says it’s still making bills cheaper than they would have been under the plan of the former Liberal government. A report on hydro bills released […] by Ontario’s Financial Accountability Office says from 2018 to 2021 the average ratepayer’s bill increased by 4.3 per cent and will continue to increase by two per cent each year.”
Although the Ontario government introduced a number of hydro rate relief programs since the start of the COVID-19 pandemic, these have mostly served to stabilize, rather than reduce, hydro rates for residences and small businesses. The promise therefore remains in progress.
“Effective November 1, 2021 the Ontario government’s Ontario Electricity Rebate (OER) will be changed to 17.0%.”
“The government said electricity prices will be on an off-peak rate of 8.5 cents per kilowatt an hour for all time-of-use and tiered customers starting on Jan. 1, 2021. The rate will be in place all day for the following 28 days.”
According to the Ontario Energy Board, hydro rates have, in fact, increased by 1.8% since the Ford government took office. The promise is therefore broken.
“Since [Premier Doug] Ford took office in June 2018, the cost of electricity for average households has risen by about 1.8 per cent, according to the Ontario Energy Board.”
“Maintaining the Fair Hydro Trust in good standing […] Administering, managing and operating the Fair Hydro Trust, including to enable compliance with its obligations under the governing documents for each existing funding obligation and the other contracts and instruments to which the Fair Hydro Trust is or becomes a party.”