Mahsi cho, Mr. Speaker. [English translation not provided.]
Today, like my colleagues, I would like to talk about the high cost charged to our residents by the NWT Power Corporation.
My constituents have expressed many concerns over their power bills and the seemingly increasing power rates. This burden has been made even more difficult to deal with when they hear about bonuses that are being paid out to NWT Power Corporation executives while they shuffle their meagre budgets to pay for the basic essentials of life.
I looked into the operating cost distribution of the Power Corporation and was appalled to find out that as a business entity the NWT Power Corporation profit represents only 11 per cent of total operating costs, while interest payments represent almost 13 per cent of total operating costs. In addition to this, Mr. Speaker, the Power Corporation is charging almost 16 per cent of total operating costs towards amortization payments, for a total of almost 40 per cent being charged out in these three areas.
Mr. Speaker, with the high fuel costs during resupplies adding to the already high cost of living for NWT residents, I would like to know if the NWT Power Corporation is exercising fiscal responsibility and looking at cost breakdowns of these cost allocations. Surely these are areas that can be adjusted downwards to lower the overall operating costs at the NWT Power Corporation, and these savings can be passed on to residents of the NWT.
In Fort Resolution we see power from the Taltson hydro dam, while in Lutselk’e the residents are solely dependent on diesel. Both communities, however, consider the power rates to be much too high.
Thank you, Mr. Beaulieu. The honourable Member for Yellowknife Center, Mr. Hawkins.
