Electricity rates are getting so expensive that at some point, it becomes cheaper to just buy a few chinese solar panels off eBay and generate my own electricity. That sorta provides a cieling of maximum price. With falling prices for solar/wind, new manufacturers can build their own facilities. In 10 years, high electricity rates from an incumbent hydro will be a little less of a limiting factor -- whether or not we partially privatize Hydro One.
I really honestly have mixed feelings about Hydro One. I think we should keep it, but I'd personally prefer 15-min European-style electrified train service on the entire GO network (Hamilton included) even if I had to pay $100 more on my bill.
But at that point, I'd already have gotten my own super-cheap solar panels (my major electric cost is summertime; air conditioning & pool pump -- precise times I need solar). The prices are falling so fast on rooftop panels, I can already mostly power my 700 watt pool pump at high sun with solar (the moments the pump is needed the most!) for about $1000 of imported rooftop solar (not including install and box), and it'd more than pay for itself in the first 3 years. And it increases the value of my house, so...
So, pragmatically, there's an upper limit to how much hydro rates can raise before we do it ourselves such as via solar (when in the future, I can eventually get 1000 watts for $500 -- half a dollar a watt -- plus the base cost of system -- 1 dollar a watt system installed cost is my magic point, after subsidies). It finally fell a lot below $10/watt and is still freefalling. It's now possible to install at under $5/watt total system cost. The day is coming quickly and the prices got that low ($1/watt fully installed) already for China mainlanders. Now combine it with a price-reduced future generation Tesla battery costing only $1K in 2025, and I can bank the power overnight.
It's not something I need to do today, but something that may occur next time our roof needs reshingling. Like, 10 years from now.
It's getting close, to the point where Hydro One privatization might actually partially (shockingly) be a net-efficiency-gain because otherwise they lose business to increasingly cheaper DIY generation. Most world precedent shows rising hydro bills after privatization. But this seems less prevalent (less dramatic rate raises, sometime none) when the existing rate was already sky-high. And when customers now have options.