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Auditor-general should take a look Council backs naming Continued from page 1 3 · Friday, October 12, 2012 OAKVILLE BEAVER · www.insideHALTON.com And a further $200 million or more comes from the decision to move the plant hundreds of kilometres to the east, says Sharp. He cites an OPA analysis prepared in 2009 supporting the Oakville location. "If a plant were located outside the southwest GTA, the local transmission infrastructure upgrades costs would increase by about $200 million," the OPA said at the time. By the time the plant is built, those costs are likely to be $250 million, Sharp estimates. But the gas delivery and management fees are the biggest factor, but haven't garnered much attention. "It's because nobody put any kind of a number on it, and because it's such an obscure issue, it's not going to get much attention," Sharp said. The cost transfer from plant owner TransCanada Corp. to the OPA -- or, in effect, to electricity ratepayers -- is difficult to find. It's in clause 2 (f) of a schedule to the agreement between the Ontario Power Authority and TransCanada. The gas delivery costs are much higher for the transmission plant's new location because it's farther from Ontario's main gas storage hub in Dawn, near Sarnia, says Sharp. The Dawn hub is a huge natural gas reservoir that feeds much of southern Ontario's gas distribution system. A facility like a gas-fired g e n e r a t o r Bruce Sharp needs to assure itself of an adequate supply of gas whenever it's needed. It pays pipeline companies for access to their networks, whether the plant will use it all the time or not. The farther a facility is from the Dawn hub, the higher the cost of setting aside capacity on the pipeline system, says Sharp. He estimates the extra cost of delivering gas to the new location to be $24.5 million a year, over 20 years. That has a "net present value" of $346 million, says Sharp. (The net present value is the worth of all the future payments in today's terms.) "It's like having $346 million now would cover that cost over 20 years." The Province has argued that the higher costs to ratepayers of moving the plant have been offset because the Province negotiated lower guaranteed monthly payments to TransCanada. Those payments are called the "net revenue requirement." But the new agreement specifically says that the power authority will take over responsibility for the gas delivery fees "on a flow-through basis and without an adjustment to the net revenue requirements." Sharp says he consulted an expert on gas management fees in preparing his analysis. Sharp's summation of the total cost of the plant transfer look like this: · $40 million acknowledged by the Province as unrecoverable costs · $346 million for the new gas delivery and management costs · $250 million because of the plant's less favourable location · Sharp also argues the Province overcompensated TransCanada by $88 million for the cost of gas turbines that the company had already bought, but has been unable to put to use. (Under the agreement, the Province paid TransCanada $210 million to buy the turbines, but offset that cost by a significant reduction in the net revenue requirement payment to TransCanada. Sharp maintains the OPA was too generous.) That totals $724 million. Continued from page 1 During his 13 years as mayor of Oakville, Barrett championed the preservation of the town's waterfront. His passion for heritage preservation continues today as he is the current chair of Heritage Oakville. "As one of the town's key landmarks and greatest assets, our waterfront park system is something Oakville residents and visitors take enormous pride in," said Mayor Burton. "It is with great honour that Council announces the naming of our waterfront park system after Mr. Harry Barrett as a tribute to his exceptional contribution to our town." Signage marking the new Harry Barrett Waterfront Park System will be installed. Waterfront parks and trails already named after others will remain unchanged. Oakville has more than 30 waterfront properties, covering more than 50 hectares, and has more than 150 kilometres of trails connecting all sections of the town and its parks. The town continues to acquire and make publicly accessible waterfront lands where possible. For information, visit www.oakville.ca. 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