January 15, 2015
Sunshine needed amidst potential conflict of interest
Two unions representing workers at the Independent Electricity System Operator (IESO) also have significant investments in Bruce Power, holding a total of 7% of the equity in the more than billion dollar private company. This arrangement puts IESO staff in the uncomfortable position of supporting negotiations with a company whose success or failure could have a significant impact on their union’s bottom line. The investments held by the Power Workers Union and the Society of Energy Professionals are not pension plan investments – they are direct investments of union funds in Bruce Power, creating a powerful link between the company’s profitability and the two unions’ financial positions.