City's main operating reserve will grow in 2020, but nowhere close to council's target

By Jon Willing, Ottawa Citizen, November 8, 2019 While the city proposes to pay a bit more into its rainy-day fund in 2020, city hall’s main operational reserve won’t be anywhere near where a policy says it should be to manage budget risks, which in recent years has included impacts of harsh climate. However, the city’s top money manager says the sheer size of the city’s $3.76-billion budget helps if there are unplanned expenses. “Overall the budget is large enough to absorb most risks prior to turning to the use of reserves,” city treasurer and finance GM Marian Simulik said. “For example, the 2019 budget is showing enough flexibility to absorb both the additional costs of a record-breaking winter and a significant spring flood.” (...)Robb Barnes, executive director of Ecology Ottawa, said cities need to consider how the frequency of abnormal weather can affect their finances.

“I think that we’re seeing around the world cities are starting to feel the impacts of climate change and find that it affects the budget first,” Barnes said.

Here’s how ‘going green’ can pay off for your portfolio

By Gordon Pape, InsideOttawaValley, November 10, 2019 Over dinner the other night, the subject of Encana’s departure from Canada came up. Most guests saw it as a major economic loss for the country, and for Alberta in particular. But there was one dissenter.

“It’s just another fossil fuel company,” she said. “They’re going the way of the dinosaurs. When are we going to smarten up and start moving to green energy?”

Actually, we are. But our green energy industry is puny compared to the oil and gas giants like Suncor, Imperial Oil, and Canadian Natural Resources. Most green companies are unknown to the majority of investors. But many have seen big jumps in their share prices in the past year as people become aware of the changes taking place in the energy sector.

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The S&P/TSX Renewable Energy and Clean Technology Index was up about 19 per cent for the year ending Oct. 31. By contrast, the S&P/TSX Capped Energy Index, which consists mainly of fossil fuel companies, was down more than 24 per cent in the same period. That’s a swing of 43 percentage points in a single year. Investors are clearly voting with their money. As far as I can determine, there is no exchange-traded fund based on the S&P/TSX Renewable Energy and Clean Technology Index. But there are several individual stocks that are doing well and are worth considering. Here are some I have recommended in my Income Investor newsletter in recent years.

Brookfield Renewable Partners: This is a Bermuda-based limited partnership. It’s part of the Brookfield conglomerate, which operates world-wide, with a head office in Toronto. Renewable Partners has 18,900 MW of installed capacity and focuses mainly on hydroelectric projects, although it is also venturing into wind farms and solar. Most of its $50 billion in assets are in North and South America and Europe. The shares gained 53 per cent over the year to Nov. 4. The yield is 4.9 per cent.

TransAlta Renewables Inc.: This is a Calgary-based company that operates renewable energy projects in Canada, the U.S., and Australia. The main emphasis is on wind farms (54 per cent of generating capacity) followed by natural gas (41 per cent), hydro (five per cent), and solar (one per cent). Fossil fuel opponents won’t be pleased with the natural gas component, but gas is more climate-friendly than oil or coal. Over the past 12 months, the stock is up 26 per cent. The shares yield 6.6 per cent.
Algonquin Power & Utilities: Algonquin is a renewable energy and regulated utility company based in Oakville, with assets across North America. It operates green energy resources including hydroelectric, wind, thermal and solar power facilities, as well as sustainable utility distribution businesses (water, electricity and natural gas) through its two operating subsidiaries: Liberty Power and Liberty Utilities. This is another strong performer, with a gain of 34 per cent in the past year. The yield is 4.1 per cent. Innergex Renewable Energy: Innergex is based in Longueil, a suburb of Montreal, but its operations are international, with facilities in Canada, the U.S., France and Chile. This company is a climate activist’s dream – it only uses renewable power: hydro, wind and solar. Its assets include 67 operating facilities and seven projects in development. Net installed capacity is 2,338 megawatts. Innergex is up 31 per cent in the past year and yields 4.3 per cent.

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Boralex Inc.: Quebec-based Boralex develops and operates renewable energy power projects in Canada, the U.S., and France. The majority of the company’s production comes from wind, accounting for 89 per cent of its 1,942 MW capacity in 2018. Of the remainder, eight per cent of production is from hydro, two per cent thermal, and one per cent solar. Some 98 per cent of its capacity is covered by long-term fixed-price contracts with an average length of 13 years. The shares gained 27 per cent in the past year. The yield is 3.1 per cent. You’ll note that despite the big gains in the past year, all of these stocks still offer attractive yields for income-oriented investors, most in the 4-5 per cent range. I don’t expect capital gains to continue at the same rate going forward, but the high yields and growing investor trend towards clean energy should combine to reduce the downside in the event of a market correction.

Ask your financial advisor if any of these securities are suitable for you.

Disclosure: I own shares in several of these companies. Gordon Pape, a contributing columnist for the Star's Business ection, is editor and publisher of the Internet Wealth Builder and Income Investor newsletters. He may have personal holdings in the investments he writes about.
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LRT gremlins don't take weekend off: 'I'm angry, too,' transit commission boss says

By Normand Provencher, Ottawa Citizen, November 9, 2019

Embattled transit commission boss Allan Hubley says he’s getting “totally frustrated” with continuing glitches on the city’s brand-new LRT system and doesn’t blame riders for being angry.

But Hubley also fears that, if officials don’t get a handle on a number of issues soon, irreparable harm will be done to people’s acceptance of the fast transit system.

“I’m angry, too,” the Kanata South councillor said Saturday afternoon, hours after the system was sent into recovery mode when a train failed near Parliament Station, causing delays for two hours. It was the ninth consecutive day of problems for LRT.

Today's letters: Dreams and fixes for Ottawa's public transit system

By Gerry Bedard, Julie Newsland, John Hollis and others, Ottawa Citizen Letters to the Editor, November 9, 2019

Charge a fee for cars in the core

Re: Four ideas to help boost Ottawa’s bus and LRT service, Nov. 7.

Brigitte Pellerin has some good ideas about boosting public transit. One of the best solutions she is has not mentioned would be the introduction of transit fees for cars entering the inner city. A simple electronic system charging vehicles coming in on Highway 416 or 417 east and westbound, and of course all the bridges coming from Quebec. A $2 charge for every vehicle from 6:30 a.m. to 10 a.m. Monday to Friday on all incoming traffic. Weekends would be free. Outgoing would also be free.

(...)Stop making cars the priority

Congratulations, Brigitte Pellerin, for making suggestions that would improve bus service and ease road congestion. Ottawa politicians recognize the necessity of public transit but are reluctant to upset motorists.

(...)A better use for St-Laurent station

Re: 40 buses returning to service as mayor says he’s ‘furious’ with poor LRT performance, Nov. 2.

It was evident by 1990 that the bus transitway through central Ottawa had inadequate capacity to handle the volume of passengers in the afternoon rush hour. It has taken three decades for the city of Ottawa to begin to address that problem. And the immediate solution has significant difficulties with the connection between train and bus.

Pellerin: Four ideas to help boost Ottawa's bus and LRT service

By Brigitte Pellerin, Ottawa Citizen, November 6, 2019

You don’t have to be a mind-reader to know what went through the heads of OC Transpo monthly pass holders when Mayor Jim Watson professed himself “furious” after yet another LRT malfunction. We were all pretty upset.

If you’re counting on a bus that fails to show up, or if the train you’re waiting for isn’t running, it doesn’t take long for you to be in a jam. If you can’t afford to be late, certainly not twice a week, bus and train delays send your anxiety through the roof. And if you’re already in a financially vulnerable situation, the options of calling Uber (which will have a surcharge, by the way, based on sudden increased demand) or driving your own car aren’t available to you.

Drivers aren’t in a much better place, crawling slowly through traffic molasses whose stickiness is hard to predict. And that, as Kelly Egan aptly put it in his column earlier this week, is the biggest problem. Not knowing from one day to the next whether your commute will be 35 or 75 minutes is beyond maddening.

Stretch of Gatineau Park road to go car-free

By CBC News Ottawa, November 6, 2019

The National Capital Commission will ban motorized vehicles from one stretch of road through Gatineau Park in 2021.

The commission said Wednesday it would be permanently dedicating the north loop of the Gatineau Parkway to pedestrians, cyclists and other  "non-motorized forms of transportation."

The north loop runs between Gatineau Park's P8 and P9 parking lots.

Drivers will be prohibited on the loop once the municipality of Chelsea, Que., completes rehabilitation work on nearby Meech Lake Road, the commission said.
[googlemaps https://www.google.com/maps/d/u/0/embed?mid=1G4Qe_7X_1UY0j5HknkqPssgGcCtT-_Fi&w=100%&h=420]

Avoids road widening

The decision avoids having to widen Meech Lake Road for a dedicated cycling lane, which would be expensive and could have "significant adverse impacts" on the park's ecology, the NCC said in a statement.

"This closure will also provide a stretch of the Gatineau Parkway for the exclusive use of all active users," the NCC said.

Chelsea will continue looking into "options for a safe shared route" on Meech Lake Road, the NCC said, since cyclists will still use it once repairs are complete.

The repair work is expected to wrap up by the spring of 2021.

 

 

 

 

 

 

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Questions and answers: Ottawa's LRT troubles explained

By Kate Porter, CBC News Ottawa, November 8, 2019

In the month since the big OC Transpo overhaul, when buses were re-routed to feed the light rail network, problems have piled up — and so have questions.

Councillors and transit commissioners peppered top city staff with concerns and queries at a much anticipated public update Wednesday that lasted for hours.

They learned the Confederation Line has been 97.6 per cent reliable, but the times it hasn't run on schedule at rush hour has affected thousands of people. And as transportation general manager John Manconi said more than once, the buses and trains are so interconnected that "bad rail service equals bad bus service."

Here are a few of the big questions — and how staff answered them.

What's causing the LRT problems?

There are four main culprits:
  • The computer "brain" on each train that monitors everything from sensors to doors to braking.
  • Two controllers per train that speak to that computer and tell it the train is safe to move.
  • The train doors, which have broken when riders try to hold them open.
  • The switches on the track.

Shift happens: Environmental film festival comes to Perth

By Desmond Devoy, InsideOttawaValley, November 6, 2019 This is one green screen that does not use comic book action heroes. “Shift Happens” is an environmental film series "on the impact of humans on our planet and what we can do about it,” according to organizer Dr. Shelley Ball, who runs her organization, Biosphere Environmental Education (BEE), between Perth and Westport.

“I’ve seen all of the films in advance,” said Ball, during a telephone interview from the BEE office on Friday, Nov. 1. The idea for the film series “was born out of a casual conversation with friends,” about their favourite environmental films.

The five screenings all take place on Saturdays at the Studio Theatre in Perth and are put on by BEE and Three Green Peas.

Climate change or Plan 2014? Ottawa River flood report soon to be made public

By Derek Dunn, InsideOttawaValley, November 7, 2019 The special advisor’s report into massive flooding last spring along the Ottawa River, the second in two years, will be made public “in the coming weeks.” Natural resources minister John Yakabuski has the independent reviewer’s report and issued a statement on Friday, Nov. 1. The Renfrew-Nipissing-Pembroke MPP alluded to climate change as the cause, and made no reference to government incompetency at the federal level.

“Flooding is a serious problem that is becoming increasingly common as Ontario experiences more frequent extreme weather events,” reads Yakabuski’s statement. “Our number one priority is the safety of the public and the protection of our communities.”

Kitchissippi adjusting to light rail

By Anita Grace, Kitchissippi Times, November 3, 2019

t opened with much fanfare in September but had a tumultuous first week of full service in October. The Confederation Line of Ottawa’s Light Rail Train (LRT) has certainly attracted a lot of attention, both positive and negative. As November rolls around and the novelty begins to wear off, how are Kitchissippi residents adjusting to the changes?

For many locals, the LRT has improved their commute to work, despite the initial troubles. For example, as a professor at University of Ottawa, Wellington West resident Chris Huggins is happy with the new system and grateful that there is a station right on campus.

“It’s so fast and convenient,” he said. “I’ve only had good experiences with it.” He added that he enjoys the contemporary design of the new stations.

Transit troubles top concern as city prepares to table budget

By Kate Porter, CBC News Ottawa, November 4, 2019

The City of Ottawa tables its 2020 spending plans on Wednesday, and no part of the budget is expected to face as much scrutiny or pressure as the money directed at the beleaguered transit system.

Faced with angry riders whose commutes have gotten worse since the arrival of LRT, Mayor Jim Watson and transit commission chair Allan Hubley suddenly announced Friday that 40 more OC Transpo buses would go back on the road this week.

Walk this way: Pakenham pedestrian crossovers get the go ahead

By Ashley Kulp, InsideOttawaValley, November 4, 2019

After months of back and forth, Mississippi Mills council has given the green light to the revised design of two pedestrian crossings in Pakenham.

The decision was made at the Oct. 15 regular council meeting, after the presentation of a staff report by Guy Bourgon, director of roads and public works. The four-lane crossovers are to be installed along County Road 29 at Jeanie Street (in front of Pakenham Public School) and Elizabeth Street/Waba Road. The revamped versions respect the current curb lines and feature three-metre wide ladder crossings with flashing signals. Tactile surface indicators for accessibility will also be included. The Elizabeth Street/Waba Road crossing will be located a little further south of the intersection to maintain parking for businesses.

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