Finance committee  Quebec is raising their concerns with the Minister of Finance. The Minister of Finance is responding to Quebec's concerns. To date we've said that we're taking part in multilateral discussions with the other provinces on the treatment of hydroelectricity with an equalization, and

Finance committee  If there were a corporate restructure in the province of Quebec, we would have to look at it in terms of how the equalization program was currently functioning.

Finance committee  Let's keep in mind that the $250 million figure is a figure that is being put forward by the Quebec government. My understanding of the way they came to that number was simply to look at what the impact would be if we took out the transmission and distribution profits of Hydro-Qu

Finance committee  I believe I said that we're involved in multilateral discussions with all the provinces about the treatment of hydroelectricity in general. There are certainly no negotiations going on between the federal government and Quebec with respect to the treatment of hydro at this point

Finance committee  What I said was there are no negotiations. I certainly did not say that there are no discussions going on. As I said, the Minister of Finance in Quebec has recently written a letter to my Minister of Finance, again outlining those concerns, and we're looking at that correspondenc

Finance committee  We're certainly aware of Alberta's preference. The change that was made for Ontario was premised by the fact that Ontario was entering the program as an equalization-receiving province. Alberta certainly isn't an equalization-receiving province.

Finance committee  I think you're now getting into the policy, which is government-driven. At this time the government has committed in legislation that we'll be moving to equal per capita cash beginning in 2014-15. Alberta is certainly pushing to move to equal per capita cash sooner than that. I a

Finance committee  Ontario Power Generation is the crown corporation in Ontario that is engaged in the generation of hydroelectricity. Hydro One is engaged in the transmission and distribution of the electricity that's generated by Ontario Power Generation.

Finance committee  I'm certainly not going to be able to give you any sort of insight as to what's happening in terms of the multilateral discussions. We do know that the equalization program is going to have to be renewed in 2014-15. I certainly can't make any comment as to whether changes will ha

Finance committee  Hydro One is just involved in distribution and transmission. Its profits are remitted to government and are counted in equalization, so it's the same thing. It's an amount that's being remitted to the government. Hydro-Québec, yes, there is a division that is concerned with dist

Finance committee  Absolutely.

Finance committee  The formula itself is going to automatically start taking into account this new taxing practice. Now you have to remember that the equalization formula is based upon a three-year moving average of data that's lagged two years behind, so that the change that Ontario is going to be

Finance committee  I don't have that information for you, though.

Finance committee  I don't think we've looked at that particular question at this point in time.

Finance committee  Not yet.