Province expected to announce end to Debt Retirement Charge

The energy minister is making an announcement later in the day

The province is expected to announce the end to the debt retirement charge on your hydro bills in 2016 on Wednesday.

As it stands, the "debt retirement charge" is up to $7 per household hydro bill. It was put into place to deal with the left-over debt when the province broke up Ontario Hydro in 1998 to form Hydro One and Ontario Power Generation.

But you'll have to wait for the savings. The governing Liberals are expected to take it off your bills as of January 1st, 2016.

In January, Ontario Energy Minister Bob Chiarelli said the province was a year behind in paying down the stranded debt. The province had hoped be rid of it by next year.  At the time, Chiarelli gave a window of between 2015-2018 to pay it down.

He had also tossed the idea around of extending the 10 per cent Clean Energy Benefit on your hydro bills to compensate.

Chiarelli will be making the announcement regarding residential bills in Leslieville, alongside Minister of Consumer Services Tracy MacCharles.

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  • 16
  1. Mark posted on 04/23/2014 07:03 AM
    Sorry, it looks to me like the corrupt libranos fudged the books just to make this announcement. But, like usual the bone heads among us will believe these crooks.
    1. Sonny posted on 04/23/2014 10:30 AM
      @Mark The PCs started the debt charge when they passed it on to the Public while the profits went to the private providers...
  2. The Real Explanation posted on 04/23/2014 07:20 AM
    1. 1998 - The Harris regime breaks up Ontario Hydro into a bunch of smaller entities in the name of "efficiency".
    2. 1999 - The debt charge magically appears on our monthly bill as a result.
    3. 2014 - despite the smoke and mirrors from Con Vic Fideli - the mess started with Con bad thinking and we have been saddled with a bunch of companies handling hydro - all of which can hammer us with various charges.

    Thanks, Conservative thinkers. - and we thought the 407 blunder was bad.
    1. G Man posted on 04/23/2014 08:29 AM
      @The Real Explanation So you figure that if Ontario Hydro wasn't broken up, we'd never have to pay back its debt? The reality is that hydro rates were kept below cost for years under governments of all three parties, in order to attract and retain industry and keep consumers happy. Of course, like all debts, this was unsustainable and eventually had to be paid for. You can blame all of the parties--including premiers Davis, Peterson and Rae--for the debt.
    2. The Real Explanation posted on 04/23/2014 08:57 AM
      @G Man Your reply makes some sense until you recognize that the amount of the "debt" sky-rocketed immediately following the Con dismantling process. It was smoke and mirrors at its finest.
    3. KarenW_5 posted on 04/23/2014 12:10 PM
      @The Real Explanation What part of "the Liberals have been in power since 2003" do you not get. The debt retirement was paid back 2 years ago and they are telling us they are going to keep it there for another 18 months - why? Because they're thiefs - plain and simple.
  3. Dawn MacDonald posted on 04/23/2014 08:41 AM
    I suspect this is the carrot before the provincial government raise the rate of hydro. Give with one hand and take with the other!
  4. Karl Burgin posted on 04/23/2014 09:40 AM
    Ah, its the old switcheroo trick.

    No doubt the die-hards and Horwath are going to fall for this- as another reason why to keeping propping the Lieberals.
  5. Ernie posted on 04/23/2014 09:42 AM
    $7.00 / mo... are you kidding me. Way too little too late. My hydro bills have almost doubled in the last 3 years, even though our consumption has gone DOWN. What the Liberals need to do is reign in the high overhead cost of wages at both OPG and Hydro One, where the sunshine list is long. But of coarse don't expect that to happen. Like the police, fire services, teachers and the politicians themselves, their wages keep going up as the tax payer wage keeps slipping back. The system is so broken that this province needs some serious reform before the haves watch the have not's and the economy implode.
    1. Sonny posted on 04/23/2014 10:31 AM
      @Ernie Since you don't like it don't pay it.
  6. Something Amiss posted on 04/23/2014 10:27 AM
    Can anyone explain why the Debt Retirement Charge had GST added? I'm pretty sure that Debt repayment is not a taxable service. I've heard this comment many times but no-one has ever answered it - as far as I know.
  7. john posted on 04/23/2014 10:51 AM
    sounds like the liberals are back to kissing ass . must be a election . unlike most people i am not bought there is nothing to sell . the power company will just raise the prices to make up the loss . it is no defer ant then gas company s . this government is so full of it we can fill up the grand canyon 1000 times over . the reason why mike broke up the power was for this only people who run company call a complication we at some point should have put a thing in place that if thay wanna raise prices thay have to get permission to do so . if thay do it without permission thay lose there right to practice in this country . time to crack down on this assholes . time for a new government .
    1. Editor posted on 04/23/2014 11:28 AM
      @john These comments have been ignored because they are not found in any recognizable language.
    2. john posted on 04/23/2014 12:02 PM
      @Editor the language i speak is for REAL HUMANS not liberal ass kissers . thay speak builshit . thats why u dont understand what i am saying . it is not really your fault it is the way u were born .
    3. Editor posted on 04/23/2014 12:07 PM
      @john Your latest comments also have been ignored because they are still not found in any recognizable language.
      Try English.
    4. Karl Burgin posted on 04/28/2014 03:30 PM
      @Editor Funny. I read his comment and it pretty much boils down to this.

      1.> Liberals are idiots and they are hoping to market to the sheeple still willing to follow them off the vliff
      2.> Smart people like john aren't falling for the ploy
      3.> Time to boot Wynne and her government out of the provincial chair

      If you didn't get the gist of the comment, then you are a moron.
      And if you're being insulting to john as some sort of feeble defense in support of the Liberals, and this latest bull-crap, the you my friend are a blind, naive S&M moron.
      Not all of us enjoy extreme pain as pleasure like you do.
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