Letter to Energy Minister Chiarelli: where is the missing $20 mil?
Parker Gallant has written to Energy Minister Bob Chiarelli.
Dear Minister Chiarelli:
Re: Electricity Distributors Association AGM, March 8-9, 2015
I just had occasion to read the March 9, 2015 speech delivered by Bruce Campbell, CEO of IESO, which recently merged with the Ontario Power Authority. One of the issues that caught my eye in his speech was where he spoke about the dollars that would be saved as a result of the merger. Specifically he stated:
“But by streamlining the support functions within the two companies, reducing overall staff, executive and Board numbers, we will be able to reduce our ongoing revenue requirement by $5 million annually.”
That part of his speech set my mind to remembering back to when Chris Bentley sat in the chair you now occupy and he made an announcement about the merger but the press release put out at that time said:
“The new agency would eliminate duplication and save ratepayers up to $25 million a year.”
As a ratepayer I would like to know whatever happened to the missing $20 million? For that amount you could have purchased five “Timmies” for each of us.
If you could please take the time to enlighten me and the other 4.5 million ratepayers on what happened to the missing money it would be greatly appreciated.