Even worse, as we saw with Eglinton, if costs exceed the contingencies baked into the "fixed-price" bid, the consortia will try to recover them by any means possible, usually from the public purse. In theory, P3s shift risk to the private sector, but in practice, these companies have armies of lawyers dedicated to ensuring that they won't have to eat any losses even in the worst case scenario. So really with P3s we're privatizing the profits, socializing the risks, and paying way more for the privilege. I've become convinced that they're a scam designed to line the pockets of private enterprise while letting the small-government types starve the public sector of the expertise they need to manage their own projects.The result is certainly inflated prices; beyond any gouging involved, a key factor is risk-management; for private enterprise, exposing itself to bankruptcy-level risks is dangerous, and this requires padding bids with liberal contingencies that will, if the project is well run, simply be banked by the consortia. This doesn't occur at the nearly the same level with much smaller contracts in traditional procurement.