Year ended December 31, 2019

9. Investment:

In 2018, EWE invested in short term fixed income investments. An initial investment of $3,160 has been invested in a one year term deposit at a rate of 2.75% compounded annually (2018 - $3,054) with a maturity date of October 26, 2020. Another investment of $3,135 (2018 - $3,058) has been invested in a high interest savings account at the rate of prime less 1.45%.

    2019   2018
Investment:    
Term deposit $ 3,176 $ 3,071
High interest savings   3,135   3,058
Total investment $ 6,311 $ 6,129

In 2014, a sinking fund was established with the intent to ensure sufficient funds are available to settle debentures issued November 6, 2012, with a maturity date of November 6, 2042, in the amount of $103,000. There are no restrictions with this investment. Annual payments are expected to be completed to satisfy the obligation.

These investments are recorded at fair value as of December 31, 2019, and are invested in fixed income and equity markets as established by the Corporation’s investment policy.

    2019   2018
Investment:    
Sinking fund $ 9,454 $ 7,819
Investment, sinking fund $ 9,454 $ 7,819