On Thursday, March 2, 2017 the Ontario Provincial Government announced that hydro rates will be reduced an additional 17% from the 8% PST rebate that came into effect January 1, 2017.

This will be achieved by the government re-financing debt associated with the hydro infrastructure for 30 years as opposed to the original 20 year plan.  It is our understanding that the further reduction to hydro bills will be reflected on the global adjustment line item on the hydro bills.   We will be closely monitoring all future government releases to see the effective date of this change as well as to ensure that is properly reflected on all hydro bills received by applicable Corporation’s which we manage.