The Ontario government will simplify aspects of Ontario’s electricity system which it says will save money and reduce rates. The PC Party promised in the last election to reduce electricity prices by 12% — on top of the Fair Hydro Plan introduced by the Liberals. It reduced rates by borrowing money to cut prices. Under this new plan, the Fair Hydro Plan would be wound down and refinanced with the hope of saving as much as $4 billion and bring the financing in line with recommendations from the Auditor General.
