The Ontario Energy Board thinks you're not paying enough for hydro

[bmdbley'sBro]

so bend over peasant.

The Ontario Energy Board thinks you're not paying enough for hydro so they're sticking their hands in your wallet for another $60.

The provincial Crown agency decided earlier this year that utilities should be able to boost their guaranteed profit margin to 9.85% from 8.39%.

That means Ontario's hydro ratepayers - already hammered by the HST, time of use pricing and rate hikes - will pay an added $240 million a year, the Ontario NDP says. Ratepayers have already seen some of the increase, which will total $60 by the end of the year.

NDP Leader Andrea Horwath called Premier Dalton McGuinty on the carpet in the Ontario Legislature Thursday, demanding to know why ratepayers should have to cough up even more of their stretched dollars to boost profits for the utilities.

"Ontario families are scrambling to deal with sky high hydro rates. Does the premier think it's fair to actually ask consumers to pay even more just to ensure healthy profits for hydro utilities?" she said.

In the House, PC Leader Tim Hudak said ratepayers are watching their bills go through the roof - $732 more a year.

McGuinty said: "I don't believe his numbers."

http://www.torontosun.com/news/toron.../15449581.html