EDMONTON - Edmonton City Council is hosting a public hearing today on its proposal to sell $3.1 billion worth of drainage assets to EPCOR for $1.00.
"The sale must be stopped to ensure the best interests of Edmontonians are protected," said Joel French, Executive Director of Public Interest Alberta. "If EPCOR takes control of Edmonton’s drainage assets, decisions related to those assets will go from the public chambers to behind closed corporate doors."
French also pointed out the risks the City runs having major assets operated by a corporation focused primarily on profits for its shareholders.
If the EPCOR takeover happens, they will be more focused on cutting costs and making profits than on providing high quality drainage services,continued French.
Edmontonians also need to be aware of the risk that EPCOR could sell Edmonton's drainage assets to a fully-private corporation. It's a slippery slope into secretive, profit-driven utilities where costs are high and quality made to meet bare minimum standards.
Public Interest Alberta is running a campaign with Progress Alberta to oppose the sale of the assets. For more information, visit keepdrainagepublic.ca