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Ontario's Hydro Disaster

Discussion in 'Politics' started by KickIT, Dec 17, 2003.

  1. KickIT

    KickIT TRIBE Member

    First Pickering's overrun by $4B now the OPG needs a $1B bailout? Who the fuck ran things over there and where was the Tory government the last 4 years? Though the Liberals should also take part of the blame as well. The opposition party should be all over shit like this like white on rice.

    Good article in the G&M:

  2. AdRiaN

    AdRiaN TRIBE Member

    I think a lot of these problems stem from the original restructuring of Ontario Hydro back in 1998. The government decided to launch Ontario Power Generation as one large company rather than break up its assets into several smaller and competing companies.
  3. KickIT

    KickIT TRIBE Member

    Regardless, the OPG needs a $1B bailout. How does Ontario recover from such a thing. Also, the Tories must've known OPG wasn't meeting its targets yet did nothing about it. I hate the fact that there seems to be no accountability but the tax payer here. Its bullshit. Some heads need to roll.

  4. Colm

    Colm TRIBE Member

    I think heads need to roll when Martin must keep a 4.4 billion tax cut, while freezing public servant salaries to do so. Is our economy in such poor shape to levy such a massive cut ???
  5. AdRiaN

    AdRiaN TRIBE Member

    The problem with "meeting targets" is that in many cases, the target is moving. You cannot go back to 1999 and compare OPG's net income forecast to their actual results because a lot of things have changed since then. The electricity market was originally supposed to open in November 2000, for example, and it eventually opened a year and a half later. That was not OPG's fault.

    Sure, one of the big changes was a string of cost overruns and delays at Pickering. But remember it was the Tories who ordered a review of the project, even though the report was delivered under the new government a couple of weeks ago.

    Nonetheless, assuming the current financial structure for the electricity sector remains in place, taxpayers are not on the hook for any of this. Only electricity consumers are on the hook because the stranded debt will increase.

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