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WATCH: You could feel the pinch as province announces hydro bill changes

Debt Retirement Charge will go but so will the Clean Energy Benefit

It looks like you'll be paying about $120 more on your hydro bills.

The province has officially announced it will take the Debt Retirement Charge off of residential hydro bills starting on January 1st, 2016. However, that doesn't mean you'll be saving money.

Despite not having to deal with the extra $70 per year charge to pay down the stranded debt, it comes at the same time Queen's Park ends the savings from the Clean Energy Benefit. That saves you an average of $180 per year.

When the dust settles, that means you're paying an extra $110 each year, on average.

But there's more.

Energy Minister Bob Chiarelli says the province will put in place a new program to help lower income earners deal with the price adjustment, but offered little details on who would qualify and how much savings they would receive.

He says the program would be paid for by ratepayers - adding almost a dollar per month or an extra $11 per year.

Chiarelli says the good news is that hydro rate-increases will almost level off in a few years and they won't be as steep.

The 10 per cent Clean Energy Benefit was put in place as a temporary savings measure.

The Debt Retirement Charge 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.

It will only be removed as planned if the May 1st budget passes.

 

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  1. Ed Sweet posted on 04/23/2014 04:16 PM
    More scumbag moves by Bob the Chipmunk and Kathy Windbag. I am fed up with these Liberal clowns.
  2. Ernie posted on 04/23/2014 04:25 PM
    So now it seems that we will have reduced prices for someone who qualifies whereas those who don't qualify will pay more

    Another way to shift money from those better off to those who are not.

    Robin Hood is alive and well and is a Liberal
  3. Say It Isn't So posted on 04/23/2014 07:34 PM
    Say it isn't so.
    The provincial Liberal Government actually wants to make it easier for the disadvantaged to pay their bills.
    Where will the compassion end?

    Chew on that, Tea Party Tim !!
    1. Peter posted on 04/23/2014 07:42 PM
      @Say It Isn't So The trouble is, they want to do this AT THE DIRECT EXPENSE of people who actually contribute to the economy. A better way to ease the pressure off the "disadvantaged" would be to reduce the cost of living for everybody by reducing the amount of taxpayer money being wasted on a bloated public sector.
  4. john posted on 04/24/2014 10:58 AM
    here how the setup will work .

    thay look up the voters list . if thay see that u are a liberal voter u get all the stuff thay promise .

    if u are not a liberal voter u are screwed .

    people got to stop ass kissing the liberals already .
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