When you open your Hydro Bill and see “Delivery Charge” and “Debt Retirement” as part of your bill and you wonder why it not only doesn’t decrease but actually adds up to more than the actual “amount of electricity you use”?
Did you know that your on the hook for pension plan deficits that are being caused by casino-style investments in pension funds by what I would call a CORRUPT Government and their CORRUPT agencies that are playing monopoly with our energy dollars!
Anyone who even attempts to try and make sense of their Hydro Bill in layman’s language will succumb to a mind-numbing headache and eventually give up.
The following report will tell you why!
Parker Gallant | 13/07/09
Ontario Power Generation tops the worst funded pension fund list and Hydro One isn’t far behind. Guess who is going to pay for them
As noted in a recent Barry Critchley article in the Financial Post, DBRS, the Canadian bond rating agency recently released a list of the top 20 “Worst and Best” funded Canadian Pension Plans and Ontario Power Generation (OPG) topped the worst list with a deficit of $3.3-billion) Pension fund deficits have fallen into ‘danger zone’ for first time in decade, DBRS warns – July 4). Coming in at 8th spot was Hydro One Inc. with a deficit of $1.5-billion.
In total the two had a funding deficit of $4.8-billion and with a combined full time work force at the end of 2012 of 16,651 employees that equates to a liability of $288,000 for each employee. Over 35 years each employee would be obligated to contribute an additional $8,200 annually in order to ensure those retirement benefits are retained at their current levels if they were private sector companies—but they are not.