Christina Blizzard, Toronto Sun
TORONTO – It’s that annoying, pesky line on your hydro bill. “Debt Retirement Charge.” Of all the e-mails I get, the most frequent and the most frustrated are about the hefty charge the DRC adds to your bill.
Homeowners, especially seniors and others on a fixed income, are angry. They’re feeling it all the more as this brutal winter pushes heating costs to the stratosphere. Many seniors bought their homes in the 1960s and ’70s, when the old Ontario Hydro told them to “Live better electrically.”
They heated their homes with hydro, thinking the low rates would continue forever. Now they’re paying soaring prices, soaring taxes — and the infuriating DRC. You pay HST on top of the DRC. The DRC came about as a result of the “stranded debt,” created when the old Ontario Hydro was split up into separate entities by the Mike Harris government. Read article