 dillyhammerSTART me up
Premium Member
join:2010-01-09
Scarborough, ON |
to loosedobbs
Re: The price for hydro is too damn highsaid by loosedobbs:"he Ontario government is killing a hydro surcharge for residential users, but is also scrapping a program that saved ratepayers money."
"When it all shakes out, Ontarians will be paying more."
According to Thursday’s annual provincial budget, come Jan. 1, 2016, the debt retirement charge on residential bills will be eliminated — an average savings of about $70 a year.
Simultaneously, the budget also scrapped the Ontario Clean Energy Benefit, a program that saved Ontarians $180 a year. That means the average rate-payer will be paying $110 more a year on their hydro bills. This year, Toronto Hydro has to refinance the $1.1billion it "borrowed" to pay the dividend to the City Of Toronto, resulting in it's taking over of the utility. Of course, they have neither obligation nor regulation requiring them to negotiate a better deal. Rather, the interest it get's charged is considered an operating cost and passed on to the hydro user base via one of those pesky fees. Good way to make their rich lending buddies richer at our expense. 6%? Sure! No problem. What did Toronto do with that $1.1billion anyway. I know Hamilton pissed theirs away over a few years on pet projects and corporate welfare (tax kickbacks to businesses only). I'm just curious. Mike |
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 elwoodbluesElwood Blues
Premium Member
join:2006-08-30
Somewhere in |
said by dillyhammer:.
What did Toronto do with that $1.1billion anyway. I know Hamilton pissed theirs away over a few years on pet projects and corporate welfare (tax kickbacks to businesses only).
I'm just curious.
Mike Two words Comrade Miller in 2010, until Miller restructured the debt and cashed in the remaining $535-million of their promissory note with hydro, using some of it to pay down this horrendous debt servicing cost.
Miller had already cashed in the first portion — some $245 million — of that hydro note in 2007 and promptly plunked $130-million of it into his Climate Change Fund. To my horror, in 2011 Pennachetti and his staff couldn’t confirm exactly how that money had been spent. » www.torontosun.com/2014/ ··· l-record |
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dillyhammerSTART me up
Premium Member
join:2010-01-09
Scarborough, ON |
So that's $1.225billion gone, from the City Of Toronto and the City of Hamilton alone. And all the interest, from then until now, and all the interest going forward in perpetuity. Now extrapolate that out across every hydro system in Ontario.
The gas plant scandal is peanuts.
The feed-in tariff program isn't even worth talking about. Pennies in a sea of billions.
Mike |
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 dirtyjeffer0Posers don't use avatars.
Premium Member
join:2002-02-21
London, ON |
just because Hamilton and Toronto mis-spent their money, doesn't mean none of this is important...that mis-spending is another thread altogether, and the blame lies with those who spent that money.
the gas plant scandal, nor the Green Energy Act are not peanuts and not "not worth talking about"...these are billions of dollars that could have gone towards programs that would have benefited Ontario taxpayers...they didn't. |
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 nitzguy
Premium Member
join:2002-07-11
Sudbury, ON |
to Gone
said by Gone:... and for those of us who don't pay a debt retirement charge at all, it's a net increase with no offset - period. But you've been saving 0.7c/kWh since uh....what, 1999?  So, you've had 15 years of savings vs the rest of the province. In regards to the other utilities, I don't know if any others will be sold any time soon, I know the ones up here are still held by the municipalities and haven't been sold for a one-time gain. |
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to elwoodblues
said by elwoodblues:said by dillyhammer:.
What did Toronto do with that $1.1billion anyway. I know Hamilton pissed theirs away over a few years on pet projects and corporate welfare (tax kickbacks to businesses only).
I'm just curious.
Mike Two words Comrade Miller in 2010, until Miller restructured the debt and cashed in the remaining $535-million of their promissory note with hydro, using some of it to pay down this horrendous debt servicing cost.
Miller had already cashed in the first portion — some $245 million — of that hydro note in 2007 and promptly plunked $130-million of it into his Climate Change Fund. To my horror, in 2011 Pennachetti and his staff couldn’t confirm exactly how that money had been spent. » www.torontosun.com/2014/ ··· l-record Those days From Toronto Star only Royson James pointed out and hated Miller. And now looks like James and Millers are buddies. Anyway those Miller Happy Days will be here. Soon. And apart from salary every other prices have increased. Food, Hydro, Natural Gas, Gas, Internet, cell phone to name a few. |
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 Gone
Premium Member
join:2011-01-24
Fort Erie, ON |
to nitzguy
said by nitzguy:But you've been saving 0.7c/kWh since uh....what, 1999?
So, you've had 15 years of savings vs the rest of the province. Believe me, CNP gets that money elsewhere. |
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