Thursday, July 29, 2010

Energy Companies Ignore Supreme Court and Raise Our Rates

Toronto Hydro Trucks on Queen WestImage via Wikipedia
Are these the companies we want to give "credits" to help us reduce our Carbon footprint? After settling on the class action lawsuit they will seek to recover those losses through raising our hydro rates.

April 1994 A $500-million class-action lawsuit is filed against Toronto Hydro and all municipal electrical utilities over late payment charges.
October 1998 The Supreme Court of Canada rules in a lawsuit against Consumers Gas (now Enbridge Inc.) that late fees charged by utilities must comply with the maximum interest-rate provisions of the Criminal Code.
April 2004 The Supreme Court of Canada finds Enbridge received an "unjust enrichment" from its late fees. This paves the way for settlements of many class-action proceedings against utilities.
February 2008 The Ontario Energy Board rules that Enbridge can pass on to customers the full $25-million cost of settling its class-action lawsuit. The regulator says it is not required to follow the conclusions of the Supreme Court.
January 2010 Toronto Hydro and other municipal electrical utilities in Ontario reach a tentative $17-million settlement of the late fees class-action lawsuit.
March 2010 Toronto Hydro states in its first-quarter financial report it will seek recovery of "all costs" for its estimated $7.75-million share of the settlement.
July 22, 2010 Superior Court Justice Peter Cumming approves the class-action settlement, including a $4.8-million payment to lawyers acting for customers of the utilities. Nearly $12-million will be set aside to establish a fund to help low-income families pay their utility bills.-Customers on hook for Hydro suit

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