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The spin doctors are at work, forcing the price of electricity up in this province to a point where we can afford to pay for Nuclear power. Some kind of expert in the east is saying it will cost 50% more for electricity if the carbon sequestering program is started at the coal plants.
I think carbon sequestering is necessary but because the general public ends up paying for these projects on their utility bill, we should get an itemized cost of what goes into these programs.
Consider, the people generating the power are getting paid between .05 cents a kwh and .09 per kwh with the bulk of the power purchases now around .06 but much higher in the winter. With the power system putting out close to 9000 megawatts per hour of power! At the optimal rate of .07 per kwh it means that power generators are taking home 630,000 dollars per hour in this province! That is 15.12 million dollars per day! The utility companies post huge, some say unreasonable profits which are taken by the cities of Edmonton and Calgary. They are more than healthy!
Consider these same companies retail the power they have already been paid for generating. A contract at .12 per kwh would return these same companies an additional 450,000 dollars per hour or 10.8 million dollars a day.
Some one is taking 25 million dollars a day to the bank, all of it out of your pockets.
Aside from this; the power companies will be further eligible for large grants under the "carbon sequestering program" announced earlier by Stelmach.
The Conservatives have the system rigged so you have no recourse to correction because you have signed a contract. However, it is something you can change at the civic election! I think Albertans should be given some degree of accountability in the implementation of new programs in the power industry before we pay attention to charlatans calling for 50% increases. In this province however there is no accountability from Government and, that seems to be okay.
John Clark
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