Something Else I Didn’t Know

Thanks to Christina Blizzard I have something else to rant about!!

There is a line on our hydro bills called “debt retirement charge”.  It is calculated at a rate of 0.7 cents per kilowatt hour.   It’s been there for years – 15 years, in fact.  I had no idea it has been that long.  With every hydro rate payer in the province paying off this debt – why isn’t it gone by now?

Did you know that in 2009 “our” government  added $4 billion to this debt – and they borrowed this money for something totally NOT hydro.  Our money, used as a piggy bank!!  IMAGINE!  Even worse, they apparently didn’t tell us about this for two whole years when they retroactively put it in the annual report.  At that time the then auditor general noted that the original amount of the debt was $7.8 billion…..the government had collected $8.7 billion by March 2011 ….and there was still a debt.  The amount collected had grown to $10.6 billion as of 2013….against an original debt of $7.8 billion.

For most of us, we borrow X amount of money and when we have paid back that amount of money, the debt is gone.  Not with this provincial government.  Can you call this anything BUT  a permanent tax?  Hydro rates are high enough – and going higher.  This just adds insult to injury.  Bring on an election!!!


2 thoughts on “Something Else I Didn’t Know

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