While it’s a Conservative or Republican thing to do (selling off publicly-owned assets) Kathleen Wynne’s Liberals are determined to sell off a majority interest in Ontario Hydro.
Some people seem to think that private enterprise will do any job more cost effectively, and they most likely will, but at what cost to the user, to us? Any savings will not be passed on to the users, to us. It will be passed on to the shareholders, the stakeholders.
Private Enterprises’ function is to make a profit for those shareholders and stakeholders and that profit will come about in two ways:
- Cutting expenses – read “cutting employees” and cutting any other costs such as eliminating safeguards that are in place but not legislated;
- Increasing prices. Private enterprises are not in the philanthropic business, they don’t exist to lose money.
Multinationals around the world are ready to snap up whatever resources or utilities governments are stupid enough, or desperate enough, to sell off because they know they can buy those resources or utilities at bargain basement prices and it will be guaranteed income for them.
If we think our hydro prices are high now, just have a little patience, it will change. Thank you, Ms Wynne and all those who voted for you.