ELECTRICITY PROFITS

Evening Post, Volume CXI, Issue 95, 23 April 1931, Page 6

ELECTRICITY PROFITS

PAYING FOR CHANGE-OVER

With a net surplus of £55,500, the Electricity Department's balance-sheet was the outstanding one of the year, said Councillor G. Mitchell, who is again a. Oivic League candidate for the City Council, speaking at Scatoun on Tuesday. Besides the sum shown as net surplus an amount of approximately £30,000 had been taken from revenue for change-over purposes, and was shown, in the special' expenditure chargeable to revenue account.

"The actual profits, therefore, for the year are in the.neighbourhood of s£Bs*ooo," he said. "It is estimated that the change-over wil be completed in about two years, and will requirp a further amount to be provided out of revenue of about £60,000, or £30,000 a year. Providing these estimates are correct, and they are fjom official sources, substantial reduction in the cost of current could bo made now and still leave sufficient to complete the change-over out of revenue. A 10 per cent, reduction would mean a relief of £35,000 to users of current throughout flic city, and this could be done without in any way jeopardising the department's finances, and. I think it should be given effect to immediately, with a further substantial reduction as the change-over is completed. A reduction of £35,000 on the electric current bill and £20,000 on tTio general rate will be Svelcomc indeed to citizens at the present time. It can and. should be effected. ,

"I have all along been opposed, to the system of devoting profits from trading concerns to city purposes," said Councillor MitchelL "The department should be charged an annual payment for the facilities it receives, and after making due provision for running the department the charges for current nsod should be reduced to the lowest point. It is good to see candidates now supporting such a policy, which I hope will be given effect to in the council." ,