Wynne Doesn’t Care About Promises, or Rules…
Ontario Premier Kathleen Wynne’s government has betrayed 15 years of debt collection from Ontario ratepayers in completely perverting the Electricity Act to increase efforts, begun with Premier McGuinty, to turn the sector into a net subsidizer of government spending.
In the 1999-2000 Annual Report of the Province of Ontario the government of the day laid out the basic principles behind electricity restructuring:
- Keeping electricity prices in Ontario as low as possible
- Recovering any stranded debt identified as a result of the restructuring from the electricity sector, and not from taxpayers
- Maintaining maximum value in the electricity sector until stranded debt is retired or defeased; and
- Creating a structure where investments are undertaken on a sound commercial basis.
The government of today is carrying on the tradition started by the McGuinty government before it. Rates for winter electricity were announced yesterday and the increase over the previous winter is the highest…
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