Canadian Press/Nick Liard

The Toronto Star reports that Premier Kathleen Wynne’s cabinet is expected to approve a plan to slash soaring hydro bills by an additional 17 per cent largely by financing the costs of electricity generation contracts over longer periods.

The reduction would go along with the eight per cent rebate on the provincial portion of the harmonized sales tax that kicked in this year.

Energy Minister Glenn Thibeault sent us a statement saying he could not confirm the reports but they will bring forward a plan that will have immediate relief for Ontarian’s in the near future.

That near future could be tomorrow morning as Wynne and Thibeault have a joint announcement at 9:30 am.

PC Leader Patrick Brown says the plan would just shift costs from hydro bills to tax bills.

Filed under: glenn-thibeault, government, hydro bills, kathleen-wynne, liberal, PC, savings