It’s on the OEB website. 5 year deferral period and 50/50 earnings sharing with customers from year 1. Seems to be very far off from what Enbridge asked for. Seems like a bad decision for the utilities.
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Because they’re too busy firing other employees.
Just goes to show you that we didn't know what we were doing when we filed the MAADs. Why aren't our arrogant executives being fired?
The MAADs decision will accelerate the layoffs twofold. Given that Enbridge only has 5 years instead of 10 years to accomplish what they have planned, they are not going to walk away at this point in the game.
EGD has so many people at head office, they could cut half of their workforce and they would not be missed. Unfortunately the way the decision is structured, many good people at Union Gas will be laid off due to the OEB's decision.
Chatham is going to look like a ghost town as all of these well-paying jobs will be gone. If you have not already put your house up for sale, I would strongly suggest you consider it. There's lots of buyers fleeing Toronto's housing market and Chatham real estate is a bargain!
Good luck to everyone in Chatham. The joyride has only just begun.
Lol amalco is just a placeholder for the filing. Agree with others that this is a bad deal for the utilities compared to what they asked for. BUT I assume they intentionally asked for sh-- that was completely unreasonable, fully expecting they wouldn’t get everything.... so it’s hard to say just how bad it actually is. Personally, I’m rooting for them to walk away. It’s hard to imagine they will be able to pull off all the consolidation they planned in just 5 years when it takes FOREVER to do any IT project. I would be worried they start the first couple years thinking they can pull it off, then face reality and start cutting jobs so that big Enbridge can make their nut. The amount of bureaucracy Enbridge corporate imposes will slow down everything and we will be the ones who pay the price.
Layoffs = Human sacrifice to appease the expectations of financial gods
Expect additional layoffs to meet that stretch factor they put in
It’s a placeholder. Sometimes Newcombe’s used. Doesn’t mean anything other than that.
Amalco is name they came up with? Wtf