Why Ontario Hydro Bills Are So Damn High: Here’s What We’re Reading

The Daily 5 is Sharp’s essential reading list for what’s happening in the world today. Make sure to follow us on Twitter or subscribe to the Sharp Insider newsletter to stay up to date.

Here’s what we’re reading today:

1. How Ontario electricity bills shot through the roof

“Ontarians collectively have the highest residential power rates in Canada. According to July numbers from Statistics Canada’s Consumer Price Index, electricity prices jumped by 15.7 percent in the last year, about eight times faster than overall inflation. Since December 2015, Ontarians have seen two significant price hikes, adding approximately $100 to the average annual hydro bill.

“So how did we get here? This mess is the result of a perfect storm of imperfect decisions. At best, short-sighted thinking. At worst, real incompetence.”

Vice News

2. Italy’s premier, Matteo Renzi, says he’ll resign after reform is rejected

“Italy plunged into political and economic uncertainty early Monday as Prime Minister Matteo Renzi said he would resign after voters decisively rejected constitutional changes, a step certain to reverberate across a European Union already buffeted by anti-establishment anger.”

New York Times

3. A majority of millennials now reject capitalism, poll shows

“The results of the survey are difficult to interpret, pollsters noted. Capitalism can mean different things to different people, and the newest generation of voters is frustrated with the status quo, broadly speaking.

“All the same, that a majority of respondents in Harvard University’s survey of young adults said they do not support capitalism suggests that today’s youngest voters are more focused on the flaws of free markets.”

Washington Post

4. Young people facing drop in job quality, wages, StatCan study finds

“In a report released Monday, the national statistics office says fewer young Canadians, who are not full-time students, are working in full-time jobs today than in 1976, a result driven mainly by the rise of part-time work rather than increases in unemployment rates or decreases in labour force participation.”

Toronto Star

5. Amazon’s testing out a grocery store without checkout lines

“Amazon just officially announced its long rumored grocery store, and it actually looks pretty neat. The concept is that there’s no place to checkout. You just tap your phone on some sort of detector when you walk in and then walk out with your food. Once you’ve left, you are billed through your Amazon account.”

– Gizmodo