“We clearly promised we would cancel these unnecessary and wasteful energy projects as part of our plan to cut hydro rates by 12 per cent for families, farmers and small businesses,” said Minister Greg Rickford.
The Ford government is making good on another campaign promise by saving $790 million that can be used to reduce Hydro bills for ratepayers.
The savings are being found through cancelling 758 renewable energy contracts.
In a release, Minister of Energy, Northern Development, and Mines Greg Rickford said “We clearly promised we would cancel these unnecessary and wasteful energy projects as part of our plan to cut hydro rates by 12 per cent for families, farmers and small businesses. In the past few weeks, we have taken significant steps toward keeping that promise.”
Additionally, “Rickford also confirmed that the government intends to introduce a legislative amendment that, if passed, will protect hydro consumers from any costs incurred from the cancellation. Even after all costs are accounted for, ratepayers can expect to benefit from $790 million in savings from this one decision.”
“For 15 years, Ontario families and businesses have been forced to pay inflated hydro prices, so the government could spend on unnecessary and expensive energy schemes,” said Rickford. “Those days are over.”
This is yet another example of the Ford government moving quickly to keep a campaign promise, helping to vindicate the trust millions of voters put in them on Election Day.
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