Why do we still have a Debt Retirement Charge: Barrett

Feb. 14, 2014

QUEEN’S PARK – Haldimand-Norfolk MPP Toby Barrett is questioning government accounting after it was announced the Debt Retirement Charge on electricity bills will be extended another year.

It’s estimated the extension will mean Ontarians are paying an extra $3 billion for electricity. Barrett maintained the debt was paid off  and therefore the Debt Retirement Charge should have been eliminated. He questioned why this government has made this charge a moving target.

“Shortly before the last election, the Liberals delayed the date to 2015 without explanation,” Barrett said. “Now with another election looming, they’re kicking it out to 2016.”

Opposition Finance Critic Vic Fedeli has been investigating the extra line on electricity bills Ontario residents have come to despise. He found the Liberals mysteriously increased the stranded debt to $11.9 billion in 2004, without explanation. The stranded debt from Ontario Hydro was $7.8 billion.

“We already have some of the highest electricity rates in North America,” he said. “Is the additional debt retirement fee being disguised as funding to pay for the misguided Green Energy Act? These high electricity rates hurt homeowners and discourage investment.”



For more information contact
MPP Toby Barrett at 519-428-0446