Basically, half the Electrical Distribution System (The lines that deliver power to homes and businesses in our Municipality) are owned by us the taxpayers of the Crowsnest Pass.
You can see which lines are owned by the Municipality on their web site at the following address the rest are owned by Fortis.
There is lots of noise being made around the Pass right now that the municipality is looking at the merits of selling the assets, who knows for sure if there is any truth to that.
However, for what its worth I am going to add my two bits, if they do sell it, they had better get some substantial dollars in return. Unbelievably the electrical system actually contributes net revenue to the municipality every year. From 2011-2014 the municipality in their own figures show a surplus of $1,752,860 from the electrical system that’s an average of $438,215 surplus to offset that lose of revenue the Municipality would have to increase taxes by minimum of 6% a year or find additional revenue sources from other areas.
The number of $10,000,000 is being floated around look at the average surplus number above $438,215 that would mean any potential buyer would not get their money back for at least 25 years. Would anybody pay that kind of money for a businesses that will take 25 years to pay for itself? I doubt it.
What does that mean in layman terms? If somebody is going to buy the system, they are not going to buy it unless they can pay for it in a maximum of 5-10 years, which based on the average projected earning means $2-4 million unless of course a potential buyer comes in with the intention of driving up those revenue numbers. (We all know what that means).
We all need to keep in mind that if our leaders are even contemplating getting rid of this asset we better be getting a lot in return. Because once it is gone the taxpayers we be expected to make up that short fall, and we will all probably be paying a little more in our power bills.