Gas Busters Part 12: Ratepayers As Crime Victims

The lawyers and financial experts working for the OPA calculated that part of one of the payoffs consumers are forced to eat, in this case to one of Eastern Power’s lenders related to the Mississauga power plant cancellation, works out to a payment at two times the criminal rate of interest.
Here is a comment from an OPA financial expert: “Ok- effectively it’s about twice the criminal rate.”

Check out the reference to the “criminal rate of interest” here:

What I haven’t found yet in the documents are the origins of this settlement. If you uncover details on how ratepayers got on the hook for an interest charge at about twice the Criminal Code maximum rate of interest, please share it here.

Post Script November 15: Another search term to use is “usury”