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RP ---- a "A Family Tradition for 125 Years" A PORT PERRY STAR - Tuesday, October 8, 1991 - 13 Letters io the editor Ontario Hydro out of control From Page 8 world, Ontario Hydro should Have less than halt the Pures of managers and some over half of the number of em- ployeesinits head office and ge- ographicregions, he wage scale excluding benefits for senior executives r annum are chairman 52,000 to $528,000; presi- dent $257,000 to $386,000; 13 vice presidents each at $124,000 to $292,000. Corners will get left turn lanes Two Scugog Township in- tersections will be improved in the next couple of months. The local work will in- clude widening Simcoe Street at Riverside Drive (Apple Valley entrance) to accommodate a left-hand turnlane. Road) will also be widened at the Reach Industrial Park intersection to accom- modate turning commercial vehicles. = © Four other intersections | in Durham Region will also beimproved. The estimated cost of the total project is $513,800. Elirpa Construction and Materials Ltd. of Pickering was awarded the contract. Regional Road 8 (Reach | Poor financial forecasts have forced man ent to use and . partially deplete reserves. In business since 1906, Onta- rio Hydro has a debt of 84 per cent, meaning of all its assets, only 16 per cent are debt free. How is this going to be paid by an aging population? Ontario Hydro gave pension settlement to its employees giv- ing them indexed pensions at a cost of $228 million. Ontario dro (June 17, 1991) renegotiated its uranium supply contracts with Rio Al- gom Ltd. at a cost of $160 mil- lion {approximately $30 per pound which is $20 per pound over uranium available in Sas- katchewan). Ontario Hydro agreed to pro- vide $65 million to the North- ern Ontario Heritage Fund to fund economic diversification to Elliot Lake and Blind River in retiring their municipal debt. Ontario Hydro is to spend $25 million on hydraulic con- tracts in Elliot Lake area which were low priority items in their original plans. ntario Hydro has spent ap- proximately $25 million on in- tervenor funding for its envi- ronmental assessment of its 26 year plan. : The Darlington Project was estimated originally at $2.07 billion. The cost is now estimat- ed at $13.5 billion and rising. Would this happen in the pri- vate sector? Darlington is "probably the biggest management screw-up in the history of Canadian in- dustry," said utilities analyst - Tom Adams of Toronto's Ener- gy Probe Research Foundation. The current cost estimate is an increase of 4.7 per cent from the $12.9 billion, 1990 forecast. Darlington has turned into a massive sinkhole for Hydro spending. Its current price tag is more than 380 per cent great- er,in real dollars, than the orig- inal estimate -- and is still climbing. "The cost overrun on Darlington has been stagger- ing, and is getting worse all the time," Mr. Adams says. It would fill this newpaper if1 were to list the waste and poor management decisions made by this utility. When chal- lenged by the writer, the sar- castic answer received from a Hydro vice president was "The bonds are still selling." After I pointed out the disas- trous results that this out-of- control utility was contributing B fis fonesion snd ie ; ple's ability to pay, Allan Holt, president of Hoare responded that there is no intention to pri- Yaka any part of this organiza- on. Prior to writing this letter, I faced the fact that either I could sit back and do nothing or at- tempt to protest but I knew I would be powerless to initiate major changes without the Power of the media and the pub- ic. I have no affiliation with any provincial party, nor am I affili- ated with any other group such as Energy Probe, Green Peace, etc. I am acting unilaterally and personally paying all the costs related to this letter to all | the media. By way of this letter I solicit through the media, you the en- ergy consumers, individuals, businesses, municipal councils and municipal hy commis- sions to write, telephone or fax your elected representatives in the provincial legislature with a copy to the Premier of Ontario and the chairman of Ontario 'Hydro, requesting them to bring this essential utility back ) & Furnace Protection Plan é High Efficiency Oil Burners & Seniors Discount é High Efficiency Oil Furnaces é Budget Plan & Olco Furnace Finance Plan é Automatic Delivery Service oLcCoO = PETROLEUM (416) 427-6526 or toll free 1-800-263-2726 Serving Port Perry and + Surrounding areas for over a 20 years. 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