Ontario Liberals Slashing Hydro Rates by 25%

Come summer, Bramptonians, and everyone else across the province can expect some drastic changes to their hydro bills.

The Liberals finalized plans Wednesday to slash electricity rates by 25 per cent in Ontario.

To make it happen Wynne plans to reduce rates by 27 per cent on top of the 8 per cent rebate on provincial harmonized sales tax launched a couple of months ago.

The liberals will look to offset the costs by financing the costs of electricity generation contracts over longer periods.

Critics are already saying its a band-aid solution, akin to re-mortgaging a home. Sources also say it could lead to more costs for taxpayers down the road.

Having doubled in the last decade, hydro rates are fuelling much of the discord between the liberal government and Ontario taxpayers.

Now the Wynne government is looking to make up some much-needed ground, and just in time for air conditioning weather too.