HIGH VOLTAGE JOLT - McGUINTY HIKES HYDRO RATES AGAIN
Prices up 55 per cent despite Liberal pledge to freeze rates
QUEEN’S PARK - NDP Leader Howard Hampton says Dalton McGuinty is breaking a key election promise today by whacking working families with a third hydro rate hike.
“Working
families are getting a high-voltage jolt today - a third McGuinty
hydro rate hike.
This latest broken promise will make life more difficult and more
expensive for low- and modest-income Ontarians who are already
struggling to pay the bills,” Hampton said.
During the election, McGuinty promised to keep hydro rates at 4.3 cents a kilowatt-hour through 2006. But today, he’s raising rates for the third time. Rates will go up 15 per cent this year, meaning people are paying up to 55 per cent more for electricity now than when the premier came to office.
McGuinty’s latest hydro rate hike comes amid revelations the Liberals rubber-stamped huge pay hikes for hydro executives. Hydro One CEO Tom Parkinson raked in $1.56 million. That’s a $500,000 pay raise, even though he drew criticism for rate hikes, a risky lockout and taking Hydro One helicopter joyrides to cottage country.
“Dalton
McGuinty has pay hikes for executives and rate hikes for people. He’s
whacking
low- and modest-income families by making them pay up to 55 per cent
more for their electricity, but giving hydro executives $500,000 pay
hikes,” Hampton said.
The pay hike also comes amid news McGuinty is poised to announce $40 billion for expensive and unreliable nuclear power.
“Paying up to 55 per cent more for electricity is just the beginning. Dalton McGuinty’s plan to waste $40-billion on expensive, unreliable nuclear power without even trying energy efficiency and conservation will mean decades of punishing price hikes for people,” Hampton said.
