In the run-up to the April election, hopefully political parties will face up to the critical state of affairs arising from the corporate behaviour of Manitoba Hydro.
Recent reports Ratepayers on the hook for Hydro (Brady Yauch, Dec. 23) and Hydro's outlook still unsettled (Will Braun, Jan. 6) paint a bleak picture of out-of-control capital spending and escalating costs.
A new provincial government should apply an immediate financial tourniquet to stem the excess bleeding of capital spending. Having spent $2 billion on the much-opposed Bipole III transmission project does not justify carrying on to completion this $4.6-billion project. A further look at the viability of Hydro's capital projects, estimated at $26 billion over the next 20 years, surely would reveal other substantial savings.
At a minimum, shouldn't some urgent inquiry or corporate review process be initiated?