The proposed legislation change that Electricity Canada put forth focuses very specifically not just on a general exemption but on an exemption for specific debts. Those debts need to be traced under the typical classical interest deductibility tracing principle. You need to trace those debts to a good purpose, and that good purpose is that it's related to a regulated utility that sets rates through a regulator and the proceeds of those debts are used indirectly or directly in that utility business.
On April 9th, 2024. See this statement in context.