Hydro rates down then up
Posted Nov 18, 2010 01:33:40 PM.
This article is more than 5 years old.
Ontario homeowners will get a 10 per cent cut on hydro bills in 2011.
But rates will jump 46 per cent over five years.
Finance Minister Dwight Duncan says it will cost $1.1 billion a year for the five-year program to provide energy rebates, which will be applied after all other line items on the bill, including taxes.
The opposition parties accuse the Liberal government of trying to buy votes.
Duncan also says the government has signed a $1-billion, 50-year contract extension with Teranet, the company that operates the province’s electronic land registry.
He says the $1 billion will be applied to Ontario’s $220-billion debt, and will also lower interest costs by another $50 million a year.
