“Chiarelli said retiring that debt is taking a little longer than originally anticipated”………………….
Did this guy just fall off the energy turnip truck or does he really think Ontario consumers are that bloody stupid and forgetful that we just keep paying an item on our Hydro Bill month after month, year after year without even questioning it?
The trouble with questioning the stranded debt portion of our Hydro Bill is all we get in the form of answers are lies, excuses and, yepper……MORE LIES!
The latest Minister of Energy is once again adding his little tidbit of BS to the mix and hoping that we will swallow his idiotic explanations willingly and like good little children, not cause any trouble for Nanny and her Government!
So just to bring everyone back up to speed on how we are being gouged out of existence, here once again is the “skinny” on our bloated bills and probably “CORRUPT” billing from the gang who brought us our “Green Energy Discount” which of course goes against the stranded debt!
Rob Peter to Pay Paul takes on a whole new meaning with this Gang Green!
ONTARIO PREMIER KATHLEEN WYNNE AND ENERGY MINISTER BOB CHIARELLI Credits: DAVE ABEL/QMI AGENCY
January 29th, 2014
TORONTO ─ The provincial government is trying to rejig hydro bills to ensure customers aren’t hit with a sharp increase when the Ontario Clean Energy Benefit is phased out, Energy Minister Bob Chiarelli says.
The government is scheduled to end the benefit, a 10% break on hydro bills, at the end of 2015.
The plan was to also eliminate the debt retirement charge on hydro bills at the same time, he said Wednesday.
“It was scheduled to come off at the time the Clean Energy Benefit was coming off, and they would balance each other out more or less,” he said.
When Ontario Hydro was broken up into Hydro One and Ontario Power Generation in 1999, its $20.9-billion stranded debt was handed over to the Ontario Electricity Financial Corp.
Posted: September 25, 2013
The never-ending “debt retirement charge” on Hydro bills across Ontario looks like another way to scam dollars out of consumers pockets along with the Smart Meter charges, Global Adjustment charge, the delivery charge not to mention the off/on peak charges that mean nothing any more. If we JUST PAID for the amount of electricity we used it could be fairly an affordable bill to write a cheque for, but add on the other bogus charges and what we have is a monstrous SCAM to literally “nickel and dime” every electrical consumer out of $$$$ using vague and financially destructive methods that look more like a shakedown” than a legitimate charge! All one has to do to literally steal money out of consumers pockets these days is label it and then legislate it!
Ontario’s ratepayers were told the DRC would be around for only a few years. This report would seem to indicate, however, 13 years later, that it will take many more years before it finally disappears. To retire the remaining “Residual Stranded Debt” could require $65 billion in gross revenue to OEFC before it is finally paid off. At the current average of approximately $4 billion in annual revenue, it will take 16 years and another $16 million of DRC charges to ratepayers before that happens.