Energy Minister highlights the Fair Energy Act 2017

Average hydro bills, including those in North Bay, are expected to drop from $156 a month to about $117 once the province’s 25 per cent reduction kicks in.

That from Energy Minister Glenn Thibeault as the Fair Energy Act that was introduced Thursday.

He says rural customers will see greater saving.

“For many people that live in your listening area that are Hydro One R1 and R2 customers, they will see a significant reduction of anywhere between 40 and 50 percent because of the RRRP, the Rural Remote Rate Protection plan,” he says.

Under the new legislation, Ontarians will see lower hydro bills for the next 10 years, but will then pay for that decrease for the following 20 years through the Clean Energy Adjustment.

”We are adjusting our Global Adjustment so it is going to cost us a bit more and it will take a little bit longer to pay off, but it’s fairer because we are bringing down rates significantly now and by re-mortgaging many of our generating assets, that allows for those that will use the assets to pay for it,” he says.

The PC’s are calling the Clean Energy Adjustment the ‘debt retirement charge on steroids’.

“Many things that the Conservatives say are inaccurate, they don’t have a plan, they really don’t really know much about the energy system and all they can really do is shake their fist at it,” Thibeault says.

He says because of the changes made by the government, through investments and eliminating coal, Ontario has a clean, reliable system.

As for system changes, the Sudbury MPP says they previously took costs out of the system and has asked the system operator, the IESO, to work on market reform.

“To change the way our market operates, to create a capacity auction,” he says.

Thibeault has also asked the Ontario Energy Board to work with local utilities to find ways to pull red tape out of the system, saving costs for those utilities and money for the consumer.

(With files from The Canadian Press)