In this letter submitted to the City’s Executive Committee, CUPE Local 79 President Ann Dembinski expresses her disappointment regarding proposed plans to sell city assets (10% of Toronto Hydro and 100% of Enwave), noting that assets that bring in revenue should not be sold to for-profit corporations at the expense of Torontonians.
Mayor Rob Ford (Chair), and
Members of the Executive Committee
RE: Executive Committee Meeting 12, November 1, 2011 — Agenda item: EX12.3 Monetization Potential of City Assets
On behalf of Local 79, I want you to be aware that we do not support the sale of City assets. The proposed monetization of the Toronto Hydro Corporation (THC) and Enwave Energy Corporation is no fix for the City’s revenue problems.
Over a year ago the previous City Council dealt with this issue by listening to the people of Toronto who told Council, loud and clear, not to sell off all or part of these public revenue-generating assets.
The Report to the Executive Committee in June 2010 stated: “The City’s two energy corporations, THC and Enwave have delivered on key City policy objectives such as energy reliability and air quality, while generating significant dividends and/or equity value growth.”
Nothing has changed. We are all better off with public power, and with an ongoing source of guaranteed revenue.
Let’s not start on the road to another fiasco like the provincial government privatizing Highway 407.
No more taxpayers’ money should be spent pursuing these monetization schemes. These assets belong to the people of Toronto and it’s very short-term thinking to even consider selling them off.
Yours truly,
Ann Dembinski
President
c.c. Councillor Ron Moeser, Member of Toronto Hydro Board of Directors
Councillor Shelley Carroll, Member of Toronto Hydro Board of Directors
Councillor Josh Colle, Member of Toronto Hydro Board of Directors
