In case your bills aren’t high enough already, Hydro One proposed that they want to raise transmission rates by 4.8 per cent in 2018!
You’ll be glad to know that the Ontario Energy Board (OEB) has rejected that number however, and instead ordered Hydro One to substantially lower the rate increase number for next year.
Energy Minister Glenn Thibeault said all rate increases will be held to the rate of inflation for the next four years, as set out in the Liberal plan to cut hydro bills. Progressive Conservatives balked at the proposed increase.
The OEB’s decision issued this week orders Hydro One to cut the 4.8 percent hike to just 0.2 per cent for 2018.
The OEB also rejected a Hydro One proposal to give shareholders all of the tax savings generated by the IPO in 2015 when the Liberal government first began partially privatizing the
utility. Instead, the Board mandated shareholders get 62 per cent of the savings while ratepayers receive the remaining 38 per cent.
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