Payments in lieu of additional municipal and school taxes (PILs) are made by Hydro One Inc. and each of its subsidiaries, Ontario Power Generation Inc. and each of its subsidiaries and every municipal electricity utility for the lands they own containing generating station buildings or structures or transformer station buildings or structures. These payments are applied to retire the stranded debt associated with the restructuring of Ontario Hydro.
If a generating station building or structure owned by one of the corporations on January 1, 2000, is subsequently disposed of, the PILs continue to apply to any subsequent owner. Hydro-electric generating stations and wind turbine towers are not subject to the PILs. Hydro-electric generating stations are subject to the Gross Revenue Charge.
Hydro One Inc. and every municipal electricity utility are required to make:
Ontario Power Generation Inc. makes monthly payments by the 16th of each month: