Ontario's budget watchdog says the Liberal government will spend $45 billion over the 30-year life of its hydro plan to save people $24 billion on their electricity bills.
That cost comes mainly from the elimination of the provincial portion of the HST on hydro rates that took effect in January.
Legislation to cut electricity bills by 17 per cent on average, on top of the eight-per-cent rebate, is before the House and has to pass in the remaining four sitting days before summer if relief is to be delivered under the timeline the Liberals promised.
The Liberals have said that, after the initial cut to bills this year, rate increases will be held to inflation for the next four years.
But in ten years, ratepayers will have to start paying back the cost of these lower electricity rates.