Ontario slashing hydro rates by 25%
There's finally relief in sight from your soaring hydro bill. That's because the Toronto Star's reporting that Ontario Premier Kathleen Wynne is getting ready to cut hydro rates by 25 per cent.
While Wynne's office refused to confirm this with the Star, this reduction is slated to be finalized at a cabinet meeting today.
The Star writes that these cuts will come by “'smoothing out' the financing costs of electricity generation contracts over longer periods.”
Yesterday, NDP leader Andrea Horwath promised to slash hydro rates by as much as 30 per cent.
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