Posted by & filed under Auditing, Canadian Government, IPO.

Description: Consumers are not fond of rising power bills. But how would you feel if you were an electricity consumer last week when provincial Auditor General Bonnie Lysyk reported that citizens of Ontario paid $37 billion in excess of market prices over an eight year period. That’s billion with a “B” folks. It comes at an important time as the government is moving to sell off furtherĀ  portions of the provincial electrical utility in public offerings.

Source: Globeandmail.com

Date: December 2, 2015

Link: http://www.theglobeandmail.com/news/national/ontarians-paid-37-billion-above-market-price-for-electricity-over-eight-years-ag/article27560753/

Discussion Points:

1) What are some of the techniques the audit team may have used in arriving at the $37 billion figure?

2) What type of impact might this situation have on the future public offerings of Ontario Hydro stock?

3) What are some of the business challenges in encouraging a green energy sector?

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