MORE QUESTIONS ABOUT HYDRO ONEPublished on April 20, 2018
In a Globe and Mail article yesterday, it was reported that the Board of Ontario Hydro changed its executive severance last year. The move includes a provision that penalizes government intervention in the partially privatized utility more than that which would happen in a corporate takeover.
In an open letter to Premier Kathleen Wynne, Ontario PC leader Doug Ford calls the Liberal government to task over this, yet another questionable decision surrounding the sale of Ontario Hydro. “[The Board] saw the polling numbers and knew that the people of Ontario were ready for change, and thought they’d pull the fast one on the people of Ontario - one last taste at the trough.”
A July 2017 report by the Fraser Institute, which used data from Statistics Canada, shows that from 2008 to 2016 residential hydro costs in Ontario rose 71 per cent, while the average increase across Canada totalled 34 per cent. And the increases are done there. In their own Long-Term Energy Plan, Wynne’s Liberals expect to raise hydro rates by an additional 43% by 2027.
Doug remains committed to changing the leadership of Hydro One so that it reflects the needs of Ontario families and businesses. “As Premier, I will take immediate action to fire the entire scandal plagued Hydro One CEO and Board, should they fail to resign.”