In a surprise move, Liberal Leader Dalton McGuinty has vowed to kill electricity deregulation and privatization if he becomes premier, and allow the $38 billion hydro debt to rise.
McGuinty, who just days ago supported deregulation, said yesterday the Tory government's mismanagement of the file has effectively killed it.
"I will not move to deregulation, I will not move to privatization," he said.
"The market is dead."
Last week, Premier Ernie Eves responded to public outrage over electricity prices by freezing rates to consumers at 4.3 cents per kilowatt hour and offering rebates retroactive to May 1, when the market was opened to competition.
Prices charged by power producers will still fluctuate, but the government will pick up the difference.
"He dropped a bomb on the province," McGuinty said. "The world changed." Source.
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