Ontario government hiding financial impact of cuts to hydro bills, says Auditor General

The Auditor General says the Liberal government is hiding the true financial impact of the 25 percent cut in hydro bills.

Ontario’s financial watchdog, Auditor general Bonnie Lysyk, raises alarm over Liberals’ accounting procedures in reporting the charges related to the provincial government’s Hydro rate cut.

Pam Seatle of CityNews Toronto reports that the plan will actually cost billions in extra interest.

Auditor general Bonnie Lysyk estimates the Liberal government’s plan to offer a 25 percent cut in residential electricity rates, that was unveiled last May, could cost Ontarians an additional $4 billion in interest charges over the next 30 years.

In Lysyk’s latest salvo against the provincial government in her ongoing accounting dispute with Queen’s Park, she expressed outrage at how the hydro rebate will appear on the books.

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