"The Electricity Act, 1998 imposes a charge, known as the Debt Retirement Charge (DRC) which is payable on electricity consumed in Ontario.
All revenues from DRC will be used exclusively to pay down the residual stranded debt of the former Ontario Hydro."
Yeah, retiring on our money
I never knew that we were using electricity and not paying for it --imagine, this is the lamest thing I have ever read -I think the debt came from the under product tive nuclear plants that were suppose to make us enough electricity to run the whole province for a trillion years --
The quote below is taken from the Dalton Maguitnty website he call his ,really its the Ontario Ministry site but whatever --
"There's something on the hydro bill that's called a DRC. It's a Debt Retirement Charge and that's all about paying, every month, for billions of dollars of debt that was accumulated in the past, because we didn't pay for the real cost of electricity. Not only are we paying for the cost of the electricity we didn't fully pay for before, we're paying for interest charged on that debt."
Ask Ontario electricity consumers, who are greeted with a "debt retirement charge" on their electricity bills every month to pay off $20 billion in "stranded" debt, mostly left behind by Ontario Hydro's perpetually over budget and under performing nuclear plants
The Town Crier recently received an email about an on line petition regarding Hydro charges paid by Ontario residents. Currently, Ontario residents pay a debt retirement charge, "a charge per kilowatt hour of electricity consumed that is added to electricity bills to help pay down the stranded debt of the former Ontario Hydro." This $0.0070 per kilowatt-hour surcharge is added to every customer's monthly utility bill. In his annual report delivered on December 5, 2006, Ontario Auditor General Jim McCarter announced that among a number of questionable expenditures was $127 million worth of goods and services using corporate charge cards, but with few slips or receipts to justify the charges. The online petition requests that the Ontario Ministry of Energy make a $127 million adjustment to compensate consumers for this unapproved use of taxpayer money, either by directly removing it from the current outstanding residual stranded debt or by a reduction of the monthly debt retirement charge. To sign this petition, you can go to PetitionOnline.com, or click here.
All revenues from DRC will be used exclusively to pay down the residual stranded debt of the former Ontario Hydro."
Yeah, retiring on our money
I never knew that we were using electricity and not paying for it --imagine, this is the lamest thing I have ever read -I think the debt came from the under product tive nuclear plants that were suppose to make us enough electricity to run the whole province for a trillion years --
The quote below is taken from the Dalton Maguitnty website he call his ,really its the Ontario Ministry site but whatever --
"There's something on the hydro bill that's called a DRC. It's a Debt Retirement Charge and that's all about paying, every month, for billions of dollars of debt that was accumulated in the past, because we didn't pay for the real cost of electricity. Not only are we paying for the cost of the electricity we didn't fully pay for before, we're paying for interest charged on that debt."
Ask Ontario electricity consumers, who are greeted with a "debt retirement charge" on their electricity bills every month to pay off $20 billion in "stranded" debt, mostly left behind by Ontario Hydro's perpetually over budget and under performing nuclear plants
The Town Crier recently received an email about an on line petition regarding Hydro charges paid by Ontario residents. Currently, Ontario residents pay a debt retirement charge, "a charge per kilowatt hour of electricity consumed that is added to electricity bills to help pay down the stranded debt of the former Ontario Hydro." This $0.0070 per kilowatt-hour surcharge is added to every customer's monthly utility bill. In his annual report delivered on December 5, 2006, Ontario Auditor General Jim McCarter announced that among a number of questionable expenditures was $127 million worth of goods and services using corporate charge cards, but with few slips or receipts to justify the charges. The online petition requests that the Ontario Ministry of Energy make a $127 million adjustment to compensate consumers for this unapproved use of taxpayer money, either by directly removing it from the current outstanding residual stranded debt or by a reduction of the monthly debt retirement charge. To sign this petition, you can go to PetitionOnline.com, or click here.
