Our Hydro Bill’s “debt retirement charge” is nothing more than a Liberal slush fund!

Posted: April 23, 2014 in Uncategorized

Chiarelli, our current Minister of Energy, is announcing that he’s going to remove the debt retirement charge from our Hydro Bills in the Liberal’s run up to another “running of the reptiles” or as normal people call an election.

Running of the reptiles————courtesy Bing

BUT, and here’s the kicker, he is also going to cancel the 10% energy credit for the Liberal’s major disaster called the Green Energy Act!

Take from one hand and give with another or what old timers would call the “flim flam” game!

So after many years of paying off the debt from the sale of Ontario Hydro back in the Harris days we should have paid the debt off many years prior to today but it’s obvious the Libs have used that little account as their personal slush fund and instead of reducing the debt each month they just dump more debt into it as they spend that money and expect Hydro One customers to go happily along with their creative accounting practises!

Courtesy Bing

Ontario Liberals using debt retirement charge as slush fund

April 23rd, 2014  CHRISTINA BLIZZARD

Let me see if I can walk you through the smoke and mirrors without choking.

Energy Minister Bob Chiarelli announced Wednesday the Debt Retirement Charge (DRC) will be dropped from your hydro bill Dec. 31, 2015.

Introduced in 2002, the DRC was intended to collect $7.8 billion towards the stranded debt left behind by the old Ontario Hydro.

In 2011, the auditor general reported that as of March of that year, $8.7 billion had been collected. So you’d think we could have had a mortgage-burning party back then.

But no, the Liberals continued to collect 0.7 cents a kilowatt-hour on your hydro bill — only they slipped another $4 billion onto that, which they claim is “interest.”

Hello? Successive governments of all stripes mismanage the electricity system. They gouge cash out of your pockets to fix their mistakes — and have the nerve to charge YOU interest?

The DRC has become a giant slush fund to pay for other government programs — like Ornge, eHealth, gas plants, etc.

Now the Liberals have announced they’re going to drop that charge — after collecting another $1.5 billion of your money from now.

There’s a “but” in this — and it’s a big one: They’re also going to scrap the so-called Ontario Clean Energy Benefit (OCEB). That’s the 10% rebate you get on the first 3,000 kilowatts of electricity you use.

Are you following the bouncing ball so far? Drop a 0.7-cent-a-kWh charge. Add 10% benefit you’re losing.

Think of the number you first thought of — and try to figure it all out.

The government is replacing the OCEB all ratepayers receive with a new credit for low-income earners.

Chiarelli was sketchy on the details but said people with a household income “somewhere between $25,000 and $40,000” will be eligible.

So people on social assistance and CPP are the only ones with a low enough income to qualify for that credit.

But everyone else’s hydro bill will go up 10%. But then down 0.7 cents a kWh.

Is your head spinning yet?

If bafflegab were an Olympic sport, Chiarelli would take the gold medal.

READ MORE HERE:

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