Thank you, Mr. Speaker. Previous programs to help businesses acquire renewable energy equipment and technology have been cut back. These programs promoted business prosperity and success, by cutting the consumption and high costs of electrical and heat energy. Given our reliance on fossil fuel, greenhouse gas production is also cut, an important bonus. But even with adequately funded programs, many businesses can’t take advantage because they lack the seed funds to go ahead. Programs provided up to $10,000 for projects of up to $40,000, but first you need to have the $30,000.

The savings available from improved technology are no mystery. Our Arctic Energy Alliance and equipment suppliers can document the savings to be achieved. There’s even a phrase, “the payback period,” the time it will take for the savings from bills to pay the cost of buying and installing the new equipment.

Other progressive utilities have programs to overcome the problem of business cash flow by upfronting the cost of the new equipment. The loan is paid back from the savings realized over the payback period. The customer continues to pay the same higher energy bill they would have anyway, and the loan is paid down by the amount the new lower differs from the average former bill. When payback is complete, energy bills drop.

This is just one example of the program innovations that are old news across the South, lessons waiting to be learned. Simple, progressive and, above all, tailored to the realities of doing business in the Northwest Territories.

One opportunity is a more proactive and progressive approach by our utilities. We are already bankrolling our wholly owned Power Corporation with massive taxpayer subsidies because it produces power at a huge loss. The Town of Hay River’s economic development coordinator was recently quoted as saying that high energy costs are the biggest disincentive to new business start-up and the biggest damper on business success. Families suffer because these high costs must be passed on in consumer prices.

Our new Energy Strategy is still in the works and there’s time to do the research, to cost the programs and include some new ideas. The last expensive review of NTPC took us nowhere, we’re still shovelling in taxpayer money. Without progressive action, it should be no surprise that as we wait for volatile fossil fuel costs to take off again, we will sink ever deeper.

I’ll be looking for a serious, innovative and helpful funded approach to a new energy program for

businesses in the upcoming Energy Strategy. Mahsi.