TORONTO, Nov. 29, 2017 /CNW/ - The Society of Energy Professionals is denouncing Toronto Region Board of Trade's proposal released yesterday to privatize publicly owned hydro utilities. Data shows that privately owned local hydro utilities are more expensive and provide no better service to consumers.
"There is no data to support the claim that the private sector does hydro better," said Scott Travers, President of The Society of Energy Professionals. "In fact, it's quite the opposite. Utilities partially or wholly owned by the private sector are more expensive and perform no better service than 100% publicly owned hydro companies."
Travers's comments reference the 2015 study by MPR Associates that evaluated all Ontario local distribution companies and compared public, partially private and wholly private companies on cost and reliability. The study is available to journalists upon request.
In addition to offering cheaper hydro and better service, locally owned hydro utilities also contribute dividends to municipal governments that pay for popular public services like transit, parks and libraries.
"Hydro privatization has been studied to death, including under every mayor of Toronto since amalgamation," said Travers, who co-founded the Keep Toronto Hydro Public coalition that defeated hydro privatization in Toronto last year. "Privatization is a bad deal for ratepayers, a bad deal for taxpayers and it puts the security of a life-and-death necessity in the hands of a corporation accountable only to its shareholders."
"Privatizing a natural monopoly is never in the public interest."
The Society of Energy Professionals, a union of 8,000 members across Ontario, recognizes the need for an efficient, reliable energy system. To that end, The Society recently publicly called for transparency in and de-politicization of energy decisions in the province.
"The Board of Trade's call for privatization is just a continuation of the politicization of energy policy decisions that have already driven up electricity bills," concluded Travers.
SOURCE The Society of Energy Professionals
For further information: Adam Chaleff, [email protected], 647.500.2394