THE OAKVILLE BEAVER 3Friday, April 9, 1999 Should new Oakville Hydro m ake a profit? Town eyes various options for power utility By Howard Mozel OAKVILLE BEAVER STAFF As the deadline nears to the Town's assumption of Oakville Hydro, those entrusted with the new arrangement remain hard at work hammering out the details. On Tuesday night, Council wrestled with a host of options relating to its new relationship with the utility, chief among them whether Hydro should be operated as a for-profit or not-for-profit enti ty- Councillors also discussed interim recommendations by the Oakville Hydro Steering Committee about the future deci sion-making process and issues related to the composition and selection of future Hydro boards. After much debate, Council decided that it leans toward the for- profit model in order to ensure Hydro's continued viability. Hydro Commission chair Sean Weir says this option - at least in the initial stages - would be prudent. After all, he said, the utility in its current form has a history of solid manage ment and fiscal solvency. "It is a very prime asset for the people of Oakville," said Weir. This may prove especially important, he adds, if the Town decides at some future point to sell off the utility. The changes have been prompt ed by the Energy Competition Act 1998 that requires every Ontario municipality by Nov. 7, 2000 to assume responsibility for work cur rently carried out by municipal hydro election commissions. As a result, the Town must incorporate one or more Business Corporation Act corporations by the deadline and transfer the assets, employees and liabilities of Oakville Hydro to the new corpo rations. The steering committee - with members drawn from the Town and Oakville Hydro - was then assembled and has been working steadily to formulate workable options for the future. The com mittee recommended that the for- profit model - operating Oakville Hydro with a reasonable rate of return - is the course to follow. Council agreed, although just how much profit remains to be decided. Ward 6 councillor Kurt Franklin preferred a not-for-profit model. Mayor Ann Mulvale explained that, as sole shareholder, the Town would be safeguarding Hydro for every Oakville resident. A dividend returned to residents could also be worked out if need be. Ward 6 councillor Mark Farrow spoke persuasively about not "run ning this thing into the ground" and ruining a prized asset - espe cially when capital replacements are concerned - only to offer lower rates. (See 'Many' page 14) Waterfall Da Vanessa Da\ Double Brass Bed WITH ANY MATTRESS SET PURCHASED -- th e --------------------- S le e p F a c t o r y O ver 3 0 Locations 2 0 Years In Business REGULAR SUPPORT C O M F O R T SLEEP Mattress ■ TUT S e t ' 2 9 9 DOUBLE .209 Set .349 QUEEN ..259 Set .419 KING .. . .4 4 9 Set 709 FIRM SUPPORT U K I M O r t U I C FINAL WEEK! !199 S e t' 3 4 9 Single Mattress DOUBLE .249 Set 409 QUEEN . .299 Set 479 KING . . . .489 Set 769 25 m ■ ORTHOELEGANCE i f mmm Pick 5 ChoiceT1 25Mj-ilLj| 3RTHOSUPREM E SUPPORT ORTHOPRACT1C COIL 2000 319 3292 $ 9 Piww Cases • PBow ProtectorBed Frame • Local DeSveryMattress Protector • Set-UpBed Rails • DepcsalOfSheet Straps OtdSetPlow • Layaway !369SingleMattress S e s s O O U S e t ' 5 9 9 DOUBLE .449 Set 719 QUEEN .2519 Set 789 K IN G -----709Set1l3S S e t' 4 9 9 DOUBLE .369 Set 589 QUEEN ..429Set.689 KING . . . .589 Set 999 S e t' 5 0 9 DOUBLE .379 Set .599 QUEEN ..439Set .699 KING ....5 9 9 Set 999 DOUBLE .289 Set .489 QUEEN ..319Set.529 K IN G -----529 Set 849 D A Y BED a rB U N K BED F U T O N \ r STORAGE ELECTRIC BED SALES A L E BED SALE Mates BedBunk WAS ms WAS Iron Futon CaptainFuton Bunk NOW OEW • FREE Layaway • Disposal of old mattress available • We accept all forms of payment • Senior Citizen Discount • We make any size of mattress • Delivery and set-up available • Over 25,000 sq. ft. of factory • Financing Available n n 4460 Fairview St., so BURLINGTON g 6 8 1 -9 0 2 0 = Behind McDonald's § 5Hours: Mon.-Wed. 10-6 p.m., Thurs.-Fn. 10-9 p.m., Saturday 9-6 p.m., Sunday 11-5 p.m. CANADA'S LARGEST M ATTRESS FACTORY DIRECT • CANADA'S LARGEST MATTRESS FACTORY DIRECT £ For more information, or to set up a visit from one of our licenced Service Technicians, C A L L ( 9 0 5 ) 6 3 2 - 1 3 7 7 . N B R I D G E C o m p a n y R e m e m b e r , w e a r e t h e f a c t o r y . W hy w a it un til th e m id d le o f a heat w ave to have y o u r a ir co n d itio n e r tu n e d up? Avoid the po ten tia l inconven ience o f AC servicing by g e tting y o u r system checked now , and get ready fo r a sum m er o f cool com fort. The AC Tune-up Deal, only $98.00 (includes cleaning and general service) T H A N K S I N J U N E F O R T H I S R E M I N D E R . Please visit ou r w ebsite at w w w .sleepfatlory, corn