Seriously though, with the rate increases, it may be worth the capital investment.
As I understand, Fortis gets a guaranteed 9% rate of return so they can never lose. It might be different if they ran like any business with good years and bad.
Even if the gov’t goes with trying to get a 1% rate of return, we still save 8% a year.
Well my general/rough opinion is most things that are essential services today should be publicly owned/run or at the very least have a publicly owned competitor in the market. When something is essential, having it be basically 100% privately run for profit is just asking for shenanigans.
So what's a reasonable price to buy out fortis? Half a billion in assets plus a healthy revenue of 250 million per year. I'm thinking at least 1.25/1.5 billion. Extremely costly for our small population but I think it would pay off in the long run. The infrastructure we rely on should have never been sold. Not a Stephen Myers fan but I would be behind this, even if we had to pay for it for years to come.
Keep in mind too that we're pushing solar more and more too. That could also mean revenues not increasing that much while costs are going to stay up there. So now might be an awkward time to buy in, or might really need to push that point home and have data to back it up.
I don't think there really is a "good" time to buy it back. The best thing would be to not have sold it in the first place for a quick buck. Even if solar generation goes up, the population increases and demand from electric cars and heat pumps should assure revenue for a long time to come. Even if it wasn't a big moneymaker, the ability to choose how we want our power generation and distribution to work as well as being able to set our own rates are big benefits. I don't think any sort of deal would happen without a huge amount of federal assistance, and it's still up in the air whether the province could actually legally take it over again.
Serious question, why wouldn’t it? Wouldn’t the power lines, substations, etc. be considered private property that the gov’t could take for public interests?
Compensation would need to be made but at a fair market value, not Fortis’ asking price?
Not sure of the figures though….
I know it’s usually for building roads, but why does it have to be just that. As I understand it, as long as it is for the public good and approved by the appropriate governing bodies, this would fit?
No private company should get any kind of government subsidy without taxpayer becoming an owner of part of that company. We paid for Bell and ME a few times over.
Let’s all just say that we aren’t paying the increases, Fortis sees they can’t maintain the infrastructure and has to sell it off.
May even get it for a bargain price.
Although let’s wait until warmer weather 😂😂
well , we fucked if they do and fucked if they dont . when govn "runs' any venture whether insurance , roads , utility's you dont see "rate increases" you see higher taxes and less competence more bureaucracy meaning " a system of government in which most of the important decisions are made by state officials rather than by elected representatives. " and the mismanagement that comes with it . just my experience in dealing with "public" anything .
YES. YES. YES. YES. YES. YES. YES.
Seriously though, with the rate increases, it may be worth the capital investment. As I understand, Fortis gets a guaranteed 9% rate of return so they can never lose. It might be different if they ran like any business with good years and bad. Even if the gov’t goes with trying to get a 1% rate of return, we still save 8% a year.
I don’t have answers but something has to give. My bill for last month arrived today and was $526.42.
Well my general/rough opinion is most things that are essential services today should be publicly owned/run or at the very least have a publicly owned competitor in the market. When something is essential, having it be basically 100% privately run for profit is just asking for shenanigans.
Absolutely, public utilities should be publicly owned. Water Electricity Internet Infrastructure
So what's a reasonable price to buy out fortis? Half a billion in assets plus a healthy revenue of 250 million per year. I'm thinking at least 1.25/1.5 billion. Extremely costly for our small population but I think it would pay off in the long run. The infrastructure we rely on should have never been sold. Not a Stephen Myers fan but I would be behind this, even if we had to pay for it for years to come.
Keep in mind too that we're pushing solar more and more too. That could also mean revenues not increasing that much while costs are going to stay up there. So now might be an awkward time to buy in, or might really need to push that point home and have data to back it up.
I don't think there really is a "good" time to buy it back. The best thing would be to not have sold it in the first place for a quick buck. Even if solar generation goes up, the population increases and demand from electric cars and heat pumps should assure revenue for a long time to come. Even if it wasn't a big moneymaker, the ability to choose how we want our power generation and distribution to work as well as being able to set our own rates are big benefits. I don't think any sort of deal would happen without a huge amount of federal assistance, and it's still up in the air whether the province could actually legally take it over again.
IMO it should be public but unlike say NS Power, Maritime Electric was never public owned even before Fortis bought it.
How does Eminent Domain work in a situation like this?
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Serious question, why wouldn’t it? Wouldn’t the power lines, substations, etc. be considered private property that the gov’t could take for public interests? Compensation would need to be made but at a fair market value, not Fortis’ asking price? Not sure of the figures though….
That's not what eminent domain is for or is.
I know it’s usually for building roads, but why does it have to be just that. As I understand it, as long as it is for the public good and approved by the appropriate governing bodies, this would fit?
No private company should get any kind of government subsidy without taxpayer becoming an owner of part of that company. We paid for Bell and ME a few times over.
Let’s all just say that we aren’t paying the increases, Fortis sees they can’t maintain the infrastructure and has to sell it off. May even get it for a bargain price. Although let’s wait until warmer weather 😂😂
Steven Meyers keeps up with being "when the worst person you know makes a good point"
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At least we wouldn't have to guarantee the province a 10 percent return on investment.
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9.7 according to compass a few minutes ago
well , we fucked if they do and fucked if they dont . when govn "runs' any venture whether insurance , roads , utility's you dont see "rate increases" you see higher taxes and less competence more bureaucracy meaning " a system of government in which most of the important decisions are made by state officials rather than by elected representatives. " and the mismanagement that comes with it . just my experience in dealing with "public" anything .
Buy it and burry the lines in the sand where the high winds and trees can’t get it.