I was recently told a member of town council is publicly making two incorrect statements that seriously need to be debunked:
- Collus is 100% owned by the town (not 50%), and
- Collingwood only received $8 million for the sale of its share.
Yes, I realize that these are contradictory statements (why would someone pay you for something they never bought?), but a member of the public alleges they were told to him by a council member this week. That sort of foolishness cannot go unchallenged. So let’s correct those mistakes, shall we?
Let’s get into the wayback machine to go back to 2011; the year of a provincial election when all three parties were making promises to reduce the number of electrical distribution agencies (LDCs) in the province. As noted in the EB in January, 2012,
About 15 years ago, there were 320 local electrical distribution companies; today, there are about 80, and the town’s consultant on the process, John Rockx of KPMG, has said on several occasions, the province has concerns about the continued success of many of those operations.
(First, take a moment to read an article in the Canadian Business Journal about Collus, which tells you how well respected in the province our utility was in 2011, and what its stated goals were.)
Start with number one. You can read the application to the OEB for the sale here: written in March 2012 by Scott Stoll of the town’s then legal firm, Aird & Berlis, which oversaw the whole process. Now some history…
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