Debt Retirement Changes
Further to a commitment made on April 23, 2014, the government is removing the Debt Retirement Charge (DRC) from all residential class users’ bills effective January 1, 2016. The DRC is to remain on all other electricity users’ bills until the residual stranded debt is retired – this has been estimated to occur by the end of 2018.
For customers that have one hydro meter but supply multiple residential units, you must sign a declaration form requesting exemption. The exemption will be 1,500 kilowatt hours (kWh) per unit. The declaration form can be downloaded here or you can contact our office. This form must be signed and returned promptly for exemption and no later than December 31, 2015. Forms received after that date will not be eligible for retro-active adjustments.
- Electricity Act, 1998, Part V.1 (Debt Retirement Charge)
- Ontario Regulation 493/01 (Debt Retirement Charge – Rates and Exemptions)
- Ontario Regulation 494/01 (Debt Retirement Charge – Administration)
For more information, please call us a 1-877-850-3128.