We are requesting information through the Freedom of Information Act, namely FOIP requests. We are sharing the results of these publicly, along with emails and other information we feel is important.
Key discoveries to date:
- In 2022, 52 COMCO employees were paid a total of over $607,000 in performance bonuses.
- The target ROE for COMCO is 3.5 to 10% ROE (Return on Equity which is essentially the financial performance of the business). Yet, according to our calculations, the ROE for COMCO was as follows:
ROE for 2021 = 70%
ROE for 2022 = 106%
ROE for 2023 ytd = 53% (which is a bit misleading because genco’s equity doubled in 2022 because of the profits made). - The City has been refusing to release cost information and Council and the Mayor have been unwilling to force them to. We’ve had a number of alleged insiders claim cost plus would result in a rate of six to eight cents per kWh, and recently former Mayor Clugston appeared on Chat News also stating these figures.