Commentary: Wynne’s electricity ‘mistake’ adds another line (and cost) to your bill
By Scott Thompson, Radio Host 900CHML
When Premier Kathleen Wynne admitted her electricity “mistake,” most thought it would be followed up with some sort of solution.
This after the Auditor General said we overpaid for the government’s green energy plan by some $37 billion.
Wynne’s solution was not to fix the so-called mistake, but instead punt it further down the road to the next generation by merely extending the payments another decade.
Now the cost of that punt has been revealed in a confidential Liberal document leaked by a party insider.
TORONTO - Ontarians will see lower hydro bills for the next 10 years, but will then pay the price for that decrease for…globalnews.ca
As Wynne promised, the rates will hold steady for the first few years, but then will skyrocket in the following years after the election to pay for refinancing.
Another mechanism will also be put in place, similar to the global adjustment and the old debt retirement charge (which we just got rid of), to pay for this.
The new line on your bill will be called the Clean Energy Adjustment.
Therefore, there will be opportunity for them to take more money on one line of your bill while claiming to control another.
Watch Ontario Liberals introduce legislation to lower hydro bills but passes costs to next generation Video Online, on…globalnews.ca
We all knew this would come back to haunt us — we just didn’t think it would be so soon.
But be thankful you know all this before the next election.