The Ford government not holding back on what it thinks about hydro in the province.
Energy Minister Greg Rickford introduced a bill yesterday called the ‘Fixing the Hydro Mess Act.’
Rickford says it intends to reform the electricity system to reduce costs, drive efficiencies and lower rates for medium and large employers.
“We know that Ontarians don’t have much confidence in the system eroded by more than 15 years of decisions based on ideology,” says Rickford. “And I believe they have every right not to.”
To repair that, the ‘Fixing the Hydro Mess Act’ includes holding future hydro rate increases to inflation and bringing an end to the Fair Hydro Plan.
The Liberals put in place the Fair Hydro Plan to help bring down electricity costs.
While promoting a 25 per cent cut, Rickford says the plan was actually costing the province billions of dollars.
“We’ve heard your hydro rates will be reduced by 25 per cent and what was actually happening was it was circuitously winding up on the debt load of the province and the Auditor General exposed that.”
The proposed legislation also calls for an overhaul of the Ontario Energy Board that makes the system more efficient and accountable while protecting ratepayers.
It’s responsible for regulating the electricity and natural gas sectors.
But Rickford calls the OEB is broken and unable to meet the future challenges of the sectors it’s responsible.
