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UPDATE: P3 wastewater plant in Regina could cost $61 million more than public option

Regina Water Watch has released a report that finds that even with a federal PPP Canada grant, building Regina’s wastewater system as a public private partnership (P3) will cost taxpayers tens of millions more than funding and operating the plant publicly.

Using industry-standard assumptions with respect to deal costs, financing structure and expected returns, the report’s author, Hugh Mackenzie, estimates that P3 financing adds $61 million to the cost of financing the wastewater treatment project.

To read the Regina Water Watch media release and the full-report, go to http://reginawaterwatch.ca/2013/05/06/report-finds-p3-wastewater-treatment-plant-could-cost-61-million-more-than-public-option/.

The Regina Leader Post reports, “The Regina Water Watch group is a coalition of members of the Canadian Union of Public Employees (CUPE) Local 21, which represents staff at the waste water treatment plant, the Council of Canadians’ Regina chapter and other local citizens’ groups. Regina Water Watch launched a petition campaign in March aimed at forcing a public vote on how the city replaces the plant. …At least 20,000 signatures (10 per cent of the population) must be received by late June to force a public vote.” So far, 6,000 signatures have been collected by 180 volunteers.

For more, please read:
NEWS: Water and wastewater facilities in the ‘bull’s eye’ for P3s
NEWS: Regina Water Watch launches petition for referendum on P3 wastewater plant
NEWS: Barlow & Moist speak against P3 wastewater project in Regina
NEWS: Regina chapter to oppose P3 project at City Council meeting today