You may not realize this, but as a city ratepayer you are, in essence, a shareholder in the former St. Thomas Energy or what is now known as Ascent.

With that in mind we offer a word of caution: take a deep breath and sit down before proceeding any further.

Monday night, city council will be in receipt of the 2014 audited Ascent financial statement — although as shareholders and with two members sitting on the Ascent board of directors — the gory details were laid bare some time ago.

This corner has warned the picture would be grim — we never could have imagined it is more a financial free fall.
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