- Develops and executes the Province's borrowing and debt management
programs, invests funds for the Province and specific government
entities, and provides investment, borrowing, debt and energy management
services to the Ontario public sector.
- Responsible for investor relations, documentation and the Ontario
Savings Bond program.
- Responsible for risk management policies, information relating to
risk exposures, market value and performance measurement of capital
market transactions and portfolios.
- Monitors and forecasts public debt interest, undertakes the credit
analysis of counter-parties, and maintains Ontario's relationship with
credit rating agencies.
Finance and Treasury Division
- Responsible for settling, accounting and reporting on a timely and
accurate basis the Province’s and the Ontario Electricity Financial
Corporation’s (OEFC) debt, Interest on Debt (IOD) and investments.
- Providing centralized cash management and banking services to the
Province on an effective and efficient basis.
Corporate & Electricity Finance
- Provides financial advice to the Minister of Finance, ministries,
Crown agencies and other public bodies on:
- Policies and projects including capital markets borrowing,
financial transactions, provincial indemnities, guarantees and other
- Electricity reforms and supply initiatives, the financial
performance of Ontario Power Generation, Hydro One and the Ontario
Electricity Financial Corporation (OEFC) and the implementation of
the Ontario Nuclear Funds Agreement.
Strategic Corporate Services
- Responsible for information technology infrastructure and network
management, specialized treasury application development, electronic
business solutions, and physical security management.
- Coordinates the OFA's human resources functions, accommodations
requirements and general office administration.
- Provides legal advice and acts as Corporate Secretary to the Board
Ontario Electricity Financial Corporation (www.oefc.on.ca)
Ontario Electricity Financial Corporation (OEFC or the Corporation)
is one of five entities established by the Electricity Act, 1998
(the Act) as part of the restructuring of the former Ontario Hydro.
Under the Act, the former Ontario Hydro was restructured into
Ontario Power Generation Inc. (OPG), Hydro One Inc. (Hydro One), the
Independent Electricity System Operator (IESO), the Electrical
Safety Authority (ESA) and OEFC.
In accordance with the Act, OEFC has the following mandate:
- managing its debt, financial risks and liabilities, including the
debt of the former Ontario Hydro;
- managing the former Ontario Hydro’s non-utility generator (NUG)
contracts in the current market environment;
- receiving all payments and administering other assets, liabilities,
rights and obligations of the Corporation that were not transferred to
another of the former Ontario Hydro successor corporations and disposing
of any of these items as it deems appropriate or as directed by the
Minister of Finance;
- providing financial assistance to the successor corporations of
- entering into financial and other agreements relating to the supply
of electricity in Ontario; and
- performing any additional objects specified by the Lieutenant
Governor in Council.
OEFC retains the services of the Ontario Financing Authority (OFA)
and the Ministry of Finance to carry out its daily operations on a
cost-recovery basis. The OFA is the agency of the Province of
Ontario (the Province) responsible for provincial borrowing and debt