Saturday, April 17, 2021
7 °c
Cornwall
8 ° Sun
11 ° Mon
8 ° Tue
3 ° Wed
2 ° Thu
7 ° Fri

No products in the cart.

download our APP
  • About
    • Contributors
    • Disclaimers
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
  • Get The Seeker at Home!
  • Advertise with us!
COVID-19 Response Framework: PROVINCE-WIDE SHUTDOWN

Get the Seeker Delivered straight to your door, click here
  • Home
  • News
  • Leisure & Lifestyle
  • Community & Columnists
  • Events
    • 5 questions with…
  • Disclaimers
  • Merch
No Result
View All Result
The Seeker Newspaper Cornwall
  • Home
  • News
  • Leisure & Lifestyle
  • Community & Columnists
  • Events
    • 5 questions with…
  • Disclaimers
  • Merch
COVID-19 Response Framework: PROVINCE-WIDE SHUTDOWN

Get the Seeker Delivered straight to your door, click here
No Result
View All Result
The Seeker Newspaper Cornwall


COVID:
PROVINCE-WIDE
SHUTDOWN

Ford Government Taking Bold Action to Fix Hydro Mess

Editorial Board by Editorial Board
March 22, 2019
in Press Releases
Reading Time: 2 mins read
25 0
20
SHARES
166
VIEWS

(WILLIAMSTOWN) – Ontario’s Government for the People is reforming the electricity system to reduce costs, drive efficiencies and lower electricity rates for medium and large employers.

“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.”

You might also like

City Invites You to Participate in an Online Open House!

Launch of Future Cornwall Colouring Contest

Beyond 21 Raising Funds to Renovate New Home

“Local residents shouldn’t have to bear the responsibility of a failed system by paying one of the highest hydro rates in North America,” said Stormont-Dundas-South Glengarry MPP Jim McDonell. “Our government is fulfilling a promise to get this situation right.”

The Hon. Greg Rickford has 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.”

Quick Facts

The government is committed to lowering hydro bills by 12 per cent. Today’s announcement builds on actions taken to date, including overhauling executive compensation at Hydro One and terminating more than 750 unnecessary renewable energy contracts, avoiding $790 million in costs.

The conservation changes are expected to lead to savings for medium and large employers. For example, a large employer, consuming 50,000 megawatt hours a month, would see a bill reduction of about $30,000 per month, allowing them to reinvest these savings in modern equipment or expansion to create new jobs.

The proposed overhaul to the Ontario Energy Board (OEB) was informed by the recommendations of the OEB Modernization Review Panel, stakeholders, and regulatory experts. The changes reflect best practices and support independent decision-making.

The Financial Accountability Office estimated that the previous government’s Fair Hydro Plan added almost $4 billion in borrowing costs for Ontario families, seniors and businesses.

Author

  • Editorial Board

    View all posts

Next Post

Important Tips On Paying Back Your Installment Loans

Place YOUR ad here now
Facebook Twitter Instagram Youtube

Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom right corner!

The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within. The opinions and statements of our columnists are not to be presumed as the statements and opinions of The Seeker
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • Leisure & Lifestyle
  • Community & Columnists
  • Events
    • 5 questions with…
  • Disclaimers
  • Merch

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
X
X