QUEENS PARK – “Our government is building an electricity system that works for the people, and that starts by cleaning up the mess we inherited,” said Rickford. “We are taking a comprehensive, pragmatic approach to building the modern, efficient, and transparent electricity system that the people of Ontario deserve.”
Today, the Hon. Greg Rickford introduced the Fixing the Hydro Mess Act, 2019 and other regulatory initiatives which would if passed:
- Find savings of up to $442 million by refocusing and uploading electricity conservation programs to the Independent Electricity System Operator (IESO)
- Overhaul the Ontario Energy Board to make the regulatory system more efficient and accountable while continuing to protect consumers
- Hold residential electricity bills to the rate of inflation
- Wind down the Fair Hydro Plan and as a result save billions of dollars in borrowing costs
- Introduce a new, transparent, on-bill rebate on consumer bills to replace the Fair Hydro Plan.
By uploading the delivery of conservation programs to the IESO, the province is ensuring a consistent approach to conservation across the province and avoiding unnecessary duplication in administration costs. Because of this change, local distribution companies will no longer receive up to $150 million in bonus payments for achieving targets, payments that did nothing to help low-income families or seniors lower their monthly electricity bills.
“We’re continuing to find hundreds of millions of dollars in savings,” said Rickford. “These savings will help lower rates for large employers, allowing them to invest in their company to create more good jobs, and reduce the debt left to Ontario families by 15 years of ideological decisions.”
