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TORONTO — Ontario’s new Progressive Conservative government is cancelling 758 renewable energy contracts in what it says is an effort to reduce electricity bills in the province.

Energy Minister Greg Rickford said the move will save provincial ratepayers $790 million — a figure industry officials dispute, saying the cancellations will just mean job losses for small business.

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In a statement Friday, Rickford said the government plans to introduce legislation during its summer sitting that would protect hydro consumers from any costs incurred from the contract cancellations.

“For 15 years, Ontario families and businesses have been forced to pay inflated hydro prices so the government could spend on unnecessary and expensive energy schemes,” Rickford said. “Those days are over.”

The government announcement does not indicate which specific projects are being cancelled.

Rickford said the move is part of a campaign pledge the Progressive Conservatives made during the spring election to end the projects.