Thank you, Mr. Chairman. Good morning, Mr. McGirr.
If I understand correctly, you are responsible for equalization. I want to go back to the difference in treatment of revenue between Hydro-Quebec, in Quebec, and Hydro One, in Ontario. You know that deprives the Government of Quebec of $250 million a year. That is not a negligible amount, particularly since we, as Quebec taxpayers, pay the difference as a result of the federal government's way of proceeding.
What I understand is that Hydro-Quebec derives its revenue from power distribution. Of course, there is generation, but the revenue comes from distribution and the amount billed to customers. I suppose the same is true of Hydro One, in Ontario. It derives income from the distribution of power to the population, to taxpayers.
So that's the argument that has been raised by the Government of Quebec for a number of years to explain that, ultimately, it's the same kind of treatment. Here I note that Hydro One is considered as having business income rather than income from natural resources. If these are forms of business income, that means that Hydro One is a private company and not a Crown corporation. Enlighten me on that. I don't understand.