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To: Goose94 who wrote (25782)

5/11/2017 2:26:55 PM

From: Goose94

Read Replies (1) | Respond to of 202424

Ontario Cutting Electricity Bills by 25 Per Cent

Province Introduces Legislation to Provide Lasting Relief for Households Across Province Ontario has introduced legislation that would, if passed, lower electricity bills by 25 per cent on average for all residential customers to provide significant rate relief and ensure greater fairness.

The proposed Fair Hydro Act, 2017 would result in lower electricity bills for all residential consumers and as many as half a million small businesses and farms, starting this summer. Lower-income Ontarians and those living in eligible rural communities would receive even greater reductions, as much as 40 to 50 per cent. As part of this plan, rate increases for four years would be held to the rate of inflation.

These measures include the eight per cent rebate introduced in January and build on previously announced initiatives to deliver broad-based rate relief on all electricity bills. Taken together, these changes would deliver the single-largest reduction to electricity rates in the province’s history.

If passed, the legislation would:

Enable the Independent Electricity System Operator (IESO) and Ontario Power Generation (OPG) to work together to spread out the costs of Ontario’s clean energy investments over a longer period of time, which ensures that the costs of these investments are allocated fairly among current and future ratepayers. This would be accomplished through refinancing a portion of the Global Adjustment (GA), resulting in significant and immediate rate reductions.
Modify the Ontario Electricity Support Program (OESP) to ensure it is funded by government instead of ratepayers, reducing bills for all.
Enhance the Rural or Remote Rate Protection (RRRP) program to provide distribution charge relief to about 800,000 customers and shift costs from ratepayers to provincial revenues. This would include customers served by local distribution companies (LDCs) with the highest rates.
Provide on-reserve First Nations households with a 100 per cent credit of the delivery line on their monthly electricity bills.

Reducing electricity costs is part of Ontario’s plan to create jobs, grow our economy and help people in their everyday lives.

QUICK FACTS

Ontario’s Fair Hydro Plan

To: Goose94 who wrote (25782)

5/17/2017 2:37:11 PM

From: Goose94

Read Replies (1) | Respond to of 202424

Hydro One (H-T) Ontario Raises $2.8 Billion from Final Hydro One Share Offering

Province Exceeds Financial Objectives with Final Offering of Hydro One Shares

Ontario has completed its initiative to broaden the ownership of Hydro One, and will be dedicating the net proceeds towards the largest investment in public infrastructure in the province's history.?

On May 8, 2017, the Province announced the sale of 120,000,000 common shares at $23.25 per share. Upon closing of the transaction today, the Province has raised approximately $2.8 billion from this offering. Combined with previous amounts raised, the Province has now exceeded its objective to raise $9 billion in gross proceeds and other revenue benefits from broadening the ownership of Hydro One.

With the completion of this offering, Ontario holds 49.9 per cent of Hydro One's common shares. In addition, as announced in July 2016, the Province has agreed to sell to First Nations up to approximately 15 million shares for their collective benefit, representing 2.5 per cent of the current outstanding common shares of the company, depending on the level of First Nation participation. Assuming full participation by First Nations, this would bring the Province's ownership to 47.4 per cent of Hydro One.

To ensure that all Ontarians will continue to benefit from ownership in the company, the government of Ontario, by law, will remain the largest shareholder in Hydro One. No other shareholder, or group of shareholders, is permitted to own more than 10 per cent of the company.

By leveraging the value of Hydro One shares, the government is investing in priority transit and transportation projects that will help people in their everyday lives, including GO Regional Express Rail, light rail transit, improvements to roads and bridges, natural gas network expansion in rural and northern communities and the Ring of Fire. These projects are also creating jobs and strengthening the economy, with data showing every $1 spent on public infrastructure increases GDP by $1.43 in the short term and by up to $3.83 in the long term.

Maximizing the value of provincial assets is part of our plan to create jobs, grow our economy and help people in their everyday lives.

QUICK FACTS