NDP would cancel private hydro deals

"Thanks to hole-filled Conservative and Liberal hydro policies, companies like Brascan win every time and the people lose every time on their hydro bills," Hampton said while campaigning in Toronto for the Oct. 2 election.

"I'll stand up for hydro users by returning those hydro stations to public ownership and putting a quick end to Brascan's ownership."

Last year, the Conservatives sold four Mississagi River hydro generating stations located near Sault Ste. Marie to Brascan, a private power company, for $340 million, a fraction of their real value, said Hampton.

Brascan quickly made $17.6 million by selling its low-cost electricity, produced for 0.6 cents per kilowatt/hour for 5.7 cents per kilowatt/hour, to communities across the Algoma region, like Wawa, he said.

The NDP leader also questioned a Brascan political donation of $150,000 to Eves's leadership campaign last year.

"Looked at another way, give Mr. Eves's leadership campaign $150,000 during the months of January, February, March, you then get the four hydro generating stations for a song in March," Hampton charged.

"Then when the price of hydro is deregulated in May, you literally make mountainous profits, almost immediately," he said.

"That's another side of what's wrong with hydro privitization and deregulation."

Brascan's greed also drained Rocky Island Lake to run as much water as possible through its generators and maximize its profits, Hampton said.

A New Democrat government would buy back the Mississagi power plants for the original sale price and stop the private power-gouging, Hampton added.

The NDP slogan during the campaign has been Public Power, which includes "returning Brascan's money and putting the Mississagi generating stations back in public hands where they belong," said Hampton.

"Someone has to speak out for the people instead of gambling with an essential public service like hydro."

Hampton has accused "privatization-backing Conservatives and Liberals" of dodging the energy issue during the campaign.

If the NDP is elected, Hampton said the party would ensure:

— A publicly owned hydro system.

— Reliable power sold at cost.

— An aggressive energy-efficiency plan.

— A bold plan for renewable power generation.

— An upgraded transmission system.

Hampton was scheduled to continue his campaigning in Welland and Hamilton.