Doug Ford Will Reduce Hydro Rates and Put More Money in Your PocketPublished on April 27, 2018
Honest and responsible plan will save average family 12% on their hydro bills
The average Ontario family will save 12% on their hydro bills thanks to the Ontario PC’s honest and responsible hydro plan, Ontario PC Leader Doug Ford announced today.
“Right now, seniors, small businesses, and families are paying for hidden expenses on their hydro bills that have nothing to do with keeping the lights on,” said Ford, “we’re going to fix that. Our plan will put more money in your pocket and deliver real relief to the people who need it most.”
Ford revealed how an Ontario PC Government will remove several buried expenses from Ontario hydro bills, while ensuring that Ontario families are the principle beneficiaries of improved efficiencies in the hydro system. In particular, Ford committed to:
- Return all Hydro one dividends to hydro customers — saving the average family $70 on their hydro bills.
- Stop the practice of burying the cost of conservation programs on hydro bills and instead move those programs to the tax base — saving the average family $43 on their hydro bills.
- Place an immediate moratorium on any new energy contracts while walking back and re-negotiating existing contracts where possible — saving the average family $60 on their hydro bills.
“Together, these three measures will save an average family $173 per year on their hydro bills,” said Ford. “That’s 12% savings — on the average family’s hydro bill.”
Ford contrasted his modest and responsible approach to Kathleen Wynne’s growing hydro scandal. This week, Ontario’s Auditor General exposed that Kathleen Wynne and Charles Sousa have been hiding billions of dollars of hydro deficits off of the government’s books.
“Today we all know we are paying billions more for Kathleen Wynne’s desperate attempt to cling to power,” said Ford. “The good news is there is also a right way to bring your hydro rates down and put more money in your pocket. One that doesn’t involve accounting tricks and instead simply involves putting people first.”
Backgrounder: Putting More Money in Your Pocket
How we will lower hydro costs by 12%
Liberals driving up hydro costs:
- Fifteen years of Liberal mismanagement, and politically-motivated decisions, have left families, seniors, and businesses paying more for hydro.
- Under the Liberals, hydro rates have tripled. Kathleen Wynne and Charles Sousa have given Ontario some of the highest hydro rates in North America.
- Ontarians are paying more for hydro to pay off a network of well-connected donors and insiders who have gamed the system with the help of Kathleen Wynne and Charles Sousa.
- The Wynne-Sousa Liberals have accepted $1.3 million in donations from companies who received thousands of energy contracts.
- The Auditor General confirmed this means hydro customers overpaid for these contracts by $9.2 billion.
- The Auditor General has exposed that the Wynne-Sousa Liberals have been hiding billions of dollars of hydro-rate related deficits off the government books and that, in order to pay for these deficits, Wynne and Sousa will have to let electricity rates skyrocket to the highest they’ve ever been.
How We Will Fix It:
- Doug Ford and the Ontario PCs recognize that Ontario families and businesses desperately need relief from high hydro costs.
- A Doug Ford Ontario PC Government will introduce measures to take an additional 12% off your hydro bill.
- We will do this by:
- Rebating the government’s portion of Hydro One’s dividend directly to ratepayers on their hydro bills. This will save the average Ontario household $70 a year and will grow over time.
- Moving conservation funding to the tax base. This will save the average Ontario household $43 a year.
- Placing an immediate moratorium on any new energy contracts. Rebating the savings back to residential customers will save the average Ontario household $20 a year.
- Walk away from, or renegotiate, pre-notice to proceed contracts, where feasible. When rebated back to residential customers, this will save the average Ontario household $40 a year.
- The reductions will begin on January 1st, 2019. By 2019/20 the rebates will cost just over $800 million annually, $433 million to move conservation funding to the tax base and approximately $375 million in returned Hydro One dividends.
- Through this plan, Ontario families, small businesses, and farmers will see 12% more off their hydro bills.