Editor,
When TC Energy announced its “Pumped Water Storage” project, it promised to be a good corporate citizen, proposing a $1.5 million annual payment-in-lieu of taxes payment to the Municipality of Meaford. But is TC Energy a good corporate citizen?
In the past 6 months, TC Energy’s CEO Francois Poirier and company spokespersons have been quoted three different times in the Globe and Mail that TC Energy will prioritize its future investments in the USA and not in its home country, Canada (“TC Energy Says US offers Best Returns”, Feb. 14, “TC Energy says investment opportunities are better in the US”, July 31, and “With Better Opportunities Emerging South of the Border”, Aug. 11). Sadly, it seems TC Energy has bought into Donald Trump’s “America First” agenda. It is “elbows down” for this Canadian company! It gets even worse when one considers that Canada helped TC Energy grow by backing its creation, providing financing and regulatory support, ensuring access to abundant natural resources and creating a stable business environment that allowed the company to expand across North America. And TC Energy, in return, turns it back on Canada.
Not only can one condemn TC Energy for not being patriotic or a good corporate citizen, TC Energy is also a corporate welfare recipient. Although the company has large financial reserves ($1.8 billion in cash and short-term investments), it didn’t have a problem accepting a provincial government handout. In 2024, the Ontario Government provided $285 million to the company to proceed with pre-development work, including environmental assessments.
I believe that TC Energy is neither ethical or a responsible corporation. Is this the type of company that all levels of government (TC Energy is currently lobbying for federal funding) will fund and welcome into our community?
Marnie Wraith, Meaford
