We are going to receive a 10% reduction on our hydro bills starting January 2011. This comes after we received an 8% increase on our July 2010 bill when Dalton McGuinty added the HST. So in reality all homeowners will receive is a 2% reduction. But our hydro rates are scheduled to increase 46% over the next five years, a 9.2% annual increase.
All this is happening when most workers are lucky if they get a 2% annual pay increase. And a retiree living on a fixed income gets no increase on their meagre pensions. Retirees will see their hydro cost increase by $650 to $700 each year after this increase kicks in. To most retirees this represents one month’s pension cheque gone on additional hydro costs. Perhaps McGuinty’s plan is to get as many retirees as he can to sell their homes because they certainly will no longer be able to afford to live in them with the exorbitant cost of hydro.
Charles Owen Welland