Let the util­ity buy a new tur­bine

The Guardian (Charlottetown) - - EDITORIAL -

Per­haps the Gov­ern­ment of P.E.I. should re­con­sider their in­ten­tion to fi­nance and/or own the new 50 MW com­bus­tion tur­bine gen­er­a­tor that Mar­itime Elec­tric wants or even needs to pur­chase as a back up to avoid un­sched­uled power out­ages or load-shed­ding.

The pro­vin­cial gov­ern­ment al­ready has to fi­nance half the cost of the sub­ma­rine power ca­ble pro­ject, of which we don’t yet know the pre­cise costs.

If it is go­ing to fi­nance the new tur­bine gen­er­a­tor too, it would put the fi­nanc­ing bur­den dis­pro­por­tion­ately on the gov­ern­ment of P.E.I.

Why un­nec­es­sar­ily add $50 mil­lion ($68 mil­lion by Mar­itime Elec­tric’s es­ti­mate) to an al­ready sky-high pro­vin­cial debt?

Why does the gov­ern­ment of P.E.I. even want to own this gen­er­a­tor? It would make things need­lessly com­pli­cated.

Mar­itime Elec­tric (For­tis Inc.) is much bet­ter po­si­tioned to fi­nance the new gen­er­a­tor.

How ex­actly can we all save $30 mil­lion in elec­tric­ity rates by an in­vest­ment of $50 mil­lion (ini­tial pro­jected cost and sav­ings ra­tio men­tioned by the pro­vin­cial gov­ern­ment) and over what time pe­riod? Will we sub­se­quently save $40.8 mil­lion ($40 mil­lion and $800,000) by an in­vest­ment of $68 mil­lion?

What about amor­ti­za­tion pay­ments?

It was, by the way, the change from GST to HST that caused the big­gest in­crease ever in the house­hold’s elec­tric­ity in­voices.

Mar­itime Elec­tric wants to fi­nance, pur­chase and own the gen­er­a­tor. So, let them do it. They are the ones that have to pro­vide us with the elec­tric­ity, which they have been do­ing quite re­li­ably un­der some­times dif­fi­cult cir­cum­stances. An­net Tol Cornwall

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