On April Fools’ day last year the Auroran reported on council’s decision to convert streetlights to LED at an expected cost of just over $2.5 million.
In the piece it was outlined that the Town expects a full payback on this investment in under a decade. This is based on an expected operating savings of $280,000.
The piece then went on to claim that the cost of the project will be funded with low-interest debt financing from Infrastructure Ontario with the debt being paid off over the next ten years using the savings from lower energy costs.
The $80,000 audit council paid for claimed a 52 per cent reduction in cost over the current budget.
Well, it’s budget time so just how close has Aurora come to realizing those projected “operating savings”?
Given that Oshawa just reported spending more than $150,000 to power streetlights, with only $3,600 for power I’m doubtful. Their mayor is claiming a no-win scenario, regardless of efforts to conserve.
While our Premiere is claiming high energy prices as her mistake methinks this will prove to be another one of council’s solutions that is anything but cost-effective.