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Ontario taxpayers are covering billions of dollars of electricity costs a year in what has become an unsustainable way to keep hydro bills down, a new report says.
The C.D. Howe Institute released an e-brief Tuesday
Power Surge: The Causes of and Solutions to Ontario’s Electricity Price Rise Since 2006 that recommends residential hydro subsidies be provided only to those in financial need or limited by consumption.
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“The province should reduce rate subsidies which have climbed to $6.5 billion in the 2021/22 fiscal year,” wrote report authors Benjamin Dachis and Joel Balyk.