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Ontario to spend extra $1.6B stabilizing hydro rates, minister says
Ontario will spend $1.6 billion more this fiscal year to stabilize increasing hydro rates for customers across the province.
Finance Minister Rod Phillips says the government will exceed the $4 billion it has previously budgeted to keep prices stable — bringing the total spend to $5.6 billion.
He made the announcement Thursday as Premier Doug Ford’s government provided a quarterly update on its finances.
The provincial government said last March it would continue to subsidize hydro rates and hold any increases to the rate of inflation.
CBC
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