OPG is currently in talks with New Brunswick Power over the ownership and operation of the Point Lepreau nuclear plant. I asked the Minister of Energy last week what he would do to protect Ontario from taking on debt or financial risk in any deal related to the plant. His assurances were just boilerplate; they were not comforting.

Since then, media reports from New Brunswick indicate the power company there is looking at a number of options.

One article noted, “That could include giving up direct ownership and management of some power generation so that outside companies absorb more of the cost and the financial risk.”

I think that’s a pretty clear statement.

New Brunswick Power has over $5 billion in debt and says the status quo can’t continue. Last year, poor operations at Point Lepreau cost New Brunswick Power almost $400 million in losses.

New Brunswick Power is also talking about the option of a partnership arrangement with OPG that some say could shield the deal from New Brunswick regulators and allow OPG to take on financial risk.

Speaker, the people of Ontario have no interest in taking on someone else’s debts and losses. Our hydro rates are high enough; we don’t need to subsidize another province’s power company.

The Minister of Energy should make sure OPG is focused on looking after Ontario and not signing agreements that put us in harm’s way.

Speaker, my question is to the Minister of Energy. Last week, media in New Brunswick reported that OPG was in negotiations with New Brunswick Power to potentially buy the ailing Point Lepreau Nuclear Generating Station. We’ve gone through this kind of acquisition effort before when the six-million-dollar man ran Hydro One. We need to focus on Ontario and its needs, not on problem plants in other provinces.

Why is OPG focused on New Brunswick when we need it to focus on providing affordable and sustainable power in Ontario?

Why should Ontario ratepayers take on a project that could stick them with huge debts?