Bad books: How Ontario’s new hydro accounting could cost taxpayers billions

Earlier that month, the government had announced significant reductions in electricity rates, what it dubbed the Fair Hydro Plan. A decade of investing in greener power sources, such as wind and solar, and the shuttering of cheaper but dirtier coal-fired power plants had resulted in soaring hydro bills – a serious political liability for Ms. Wynne, who had accepted personal responsibility for fixing the problem.

But charging Ontarians less for electricity than it cost to produce meant the province would have to borrow billions of dollars to cover the shortfall.

“In order for that to not show up on the bottom line, they created creative accounting to take it off the government’s statements,” Ms. Lysyk said.

Ontario is a financial basket case thanks to the Wynne and her thieving friends.

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