Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (6928)	11/10/1999 2:59:00 PM
From: kingfisher	Read Replies (1) \| Respond to of 24921

Yes.According to Sudbury officials it is not a expropriation.They had an agreement with the original franchise holder Northern and Central Gas to allow the City the option not to renew the franchise and take over the assets at market value less depreciation.Union has put a value of $52 million to $60 million on its Sudbury assets depending on what part of the assets Sudbury would want to operate.The City of Sudbury claim the city part of the gas lines are fully depreciated and will be offering considerably less than market. The only way Sudbury Hydro can convince the Energy Board to grant them the franchise would be for them to prove they could be more efficient. Sudbury Hydro has 100 employees and 45,000 customers. Union Gas Sudbury and adjacent municipalities has 122 employees and 45,000 customers.Since deregulation Union Gas no longer deal with hot water tanks but Sudbury Hydro continue to install and service hot water tanks.Who's more efficient?