FAO confirms Ontarians to get a jolt from Wynne (un)fair hydro planMay 24, 2017
FOR IMMEDIATE RELEASE
May 24, 2017
Kitchener – Today’s FAO report confirms what Ontario PC’s have been saying since revealing secret cabinet documents indicating Kathleen Wynne’s Unfair Hydro Plan will provide a jolt of financial pain.
“Not only does Financial Accountability Officer Stephen LeClair’s analysis indicate that electricity rates will be going up, saddling ratepayers with huge costs for decades to come, but those increases will actually begin right after the next election!” Harris exclaimed. “Kathleen Wynne’s unfair hydro plan is a sham – a vote-getting ploy straight from the Liberal electioneering handbook.”
While Ontario PC’s revealed the prospects of higher rates over future years from a leaked Liberal Cabinet document earlier this month, the details of the FAO report are even worse than first expected.
Today’s report confirmed that:
- Rates will rise right after the next provincial election
- The Debt Retirement Charge which people remember from their bills is returning (four times higher)
- By 2028 rates will jump to even higher than what the leaked document suggested
- The plan will cost Ontarians up to $93 billion – and the best case scenario, which will require the government to balance its budget every year for the next three decades, is this plan’s cost will be $45 billion.
“If the leaked cabinet documents weren’t enough, the FAO report makes it crystal clear the Liberal Hydro plan has nothing to do with making life more affordable, and everything to do with Kathleen Wynne’s re-election.”
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