How the BC Liberals Played Politics with BC Hydro

Article By By Richard McCandless, The Tyee

The Liberal government in Ontario is facing a major political crisis due to opposition to the rapid increase in electricity prices, which have jumped by about 70 per cent for peak consumption in the last five years.

The rising price of electricity in Ontario has been attributed to growth in fixed costs, longer-term lucrative contracts for private power suppliers, the cost of major capital expenditures, the move to green power generation and falling demand for electricity. Public concern about growing electricity rates forced the government to announce this month it would cut bills by an average of 17 per cent. Borrowing the money to cover the lost revenue will saddle taxpayers with $1.4 billion in interest payments annually.

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