Home
Search:
1146 feeds
357 categories
0 articles (<24 hours)
36 registered users

Use the Mobile version
Mobile

Follow our Twitter feed

View our Linkpartners
Links

Username:
Password:

Register | Retrieve

Sports


RSS FeedsHydro rate-cut will ultimately cost $21B, watchdog warns
(The Star Toronto Raptors)

 
 

24 may 2017 18:15:30

 
Hydro rate-cut will ultimately cost $21B, watchdog warns
(The Star Toronto Raptors)
 


It’s a short-term, hydro-bill gain in exchange for longer-term fiscal pain.The Liberal government’s “Fair Hydro Plan,” which lowers electricity bills by 25 per cent, will ultimately zap Ontarians to the tune of $21 billion over the next three decades, the province’s budget watchdog has found.In a 15-page report released Wednesday, Financial Accountability Officer Stephen LeClair said the scheme will cost the province $45 billion over the next 29 years while saving ratepayers $24 billion for a $21-billion net expense.But LeClair warned his estimates are only applicable if “the province is able to achieve and maintain a balanced budget over 20 years.” If borrowing is required to bankroll the hydro subsidy, the cost could balloon to between $69 billion and $93 billion.Finance Minister Charles Sousa just balanced the books last month after nine years of deficits.The average monthly hydro bill is now $156 per household and the 25-per-cent rate-cut will lower the average this year to $123.Recent public opinion polls suggest the Premier Kathleen Wynne’s Liberals appear to be benefiting from the forthcoming lower electricity prices, as two recent surveys show they are closing the gap with the front-running Progressive Conservatives.Both the Tories and Andrea Horwath’s New Democrats oppose the Liberals’ rate-cutting measure.LeClair said it will keep homeowner’s electricity costs lower than they would have been over the next decade, although they will be slightly more expensive after 2027.“Although eligible electricity ratepayers are projected to achieve overall savings of $24 billion, the savings is not distributed evenly over time,” the independent legislative officer wrote.“From 2017 to 2027, electricity costs are projected to be lower under the (Fair Hydro Plan) compared to the status quo (for a total savings of $33 billion), while after 2027, electricity costs are projec ...


 
15 viewsCategory: Sports > Ball Sports > Basketball > NBA > Toronto Raptors
 
Top NBA Draft Selections at No. 10 Gallery
(NBA.com Sacramento Kings)
Manchester police arrest 4 as it investigates `network behind concert bombing
(The Star Toronto Raptors)
 
 
blog comments powered by Disqus


Copyright © 2008 - 2024 Indigonet Services B.V.. Contact: Tim Hulsen. Read here our privacy notice.
Other websites of Indigonet Services B.V.: Nieuws Vacatures Science Tweets Nachrichten