The panel predicts is would result in substantial savings for customers – about $1.7 billion over ten years, through streamlining and reduced borrowing costs.
That would reduce the yearly hydro bill for a typical residential customer by about $70 by the end of the 10th year, says the panel headed by former Liberal cabinet minister Murray Elston.
The consolidation would include the local services offered by Hydro One, which provides direct service to most customers in rural Ontario.
The panel says consolidation should be voluntary – and says utilities should be given two years to try to work out their own arrangements.
If there’s no significant progress at that point, it says, the province should consider legislation.
The panel took no formal position on whether the privatization should be part of the consolidation.
Some local utilities are already privately held.
Further acquisitions have been stalled by a heavy tax on private acquisition, imposed a decade ago.
The panel says the tax should be eliminated, but acknowledges it will take co-operation with the federal government.
Original Article
Source: the star
Author: John Spears
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