I saw a tweet the other day that seemed like the Ontario Energy Industry would be addressing an issue of interest to me:
#ELECTRICITY RATES: WHERE DO WE GO FROM HERE?
— Ontario Energy Association (OEA) (@energyontario) April 23, 2020
Turns out it was a lot less interesting than I thought.
My quick scan of the OEA’s “Help those who need help” paper finds little I agree with presented from a perspective that is foreign to me – and yet I agree with the action option they steer people to agree with:
OPTION 3: PHASE OUT ELECTRICITY COST REFINANCING SUBSIDIES
This option is the lowest cost option for provincial taxpayers. It would see bills remain stable, increasing by about 1.5% more than inflation each year until such time as electricity bills cover system costs. This option would result in electricity bills for Ontarians that are, on average, 13% below the cost plan inherited by the government, exceeding the government’s commitment.
I’m pretty sure the current Premier campaigned on actual cost controls, and not more interesting accounting – not that accounting is useless.
The industry perspective that sees cost savings as raising consumer rates above inflation deserves to, at least, have it’s historical presentation challenged.