A 10 percent rebate on electricity bills starting next year sounds great.  But when it's followed up by the revelation that hydro rates will jump 46 percent over the next five years, it's a little tough to get excited.  

The Ontario government has made both declarations over the past two days, begging the ultimate questions, what's the bottom line?  Will the rebate be blown away by the increase?

Finance Minister Dwight Duncan tried to answer.

"If you're looking at an average bill of 800 kilowatts an hour you're looking at about 3.6 percent a year."

Opposition Leader Tim Hudak accused the Liberal government of misleading the public, while trying to buy voter support by announcing the rebate.

"The so-called energy benefit will be erased in short order as family's hydro rates skyrocket 45 percent in time ahead."

Duncan also revealed that the government signed a $1-billion, 50-year contract extension with Teranet, the company that operates the province's electronic land registry.

The McGuinty government says over half of the increase is to cover the cost of going green, replacing coal fired generation with wind and solar power.  The rest will pay to upgrade transmission and distribution systems.

"This is about new jobs, it's about cleaner, greener energy," Duncan said.

The government promises that when the five years are over, the green investment will be done and rates will start to stabilize.