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Friday, August 24, 2018

UPDATED: OEB Rejects Appeal Of Orillia Power Sale

Orillia | by Ian MacLennan  

Ontario Energy Board was not convinced consumers would see lower electricity rates in the long run.

City councillor Mason Ainsworth is not gloating over the Ontario Energy Board's decision not to hear an appeal by Orillia and Hydro One on the sale of Orillia Power Distribution Corporation.

Ainsworth was one of three councillors who opposed the deal.

He says it speaks magnitudes that the OEB denied the sale, then denied the City and Hydro One appeal to the deal.

In rejecting the deal earlier this year,  the OEB said it was concerned that despite a one per cent cut in hydro rates in the first five years, it was not convinced there would be savings for consumers in the long run.

Ainsworth says a lot people in Orillia were unhappy with the deal and were left wondering what would happen after year five, and he believes the OEB also saw this as a bad deal for Orillia.

From day one,  he says his main concern was the future impact on ratepayers.

Ainsworth says the city has already wasted over $1 million of taxpayer money and he hopes council and the mayor don't waste any more.

As part of the deal,  Hydro One said it was going to build a technological hub in the Horne Business Park.

At the time,  the City projected the economic spin-offs to be in about $300 million dollar.

The $41 million dollar deal was the distribution arm of Orillia Power, in other words,  the poles and the wires.

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