Hydro One executive salaries a slap in the face: PC Energy Critic Todd Smith

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The following is a statement from Ontario PC Energy critic Todd Smith on Hydro One executive compensation:

“Today’s release of over 11 million dollars in executive compensation at Hydro One shows that selling the company was never about providing value to consumers. In a year where tens of thousands of Hydro One customers were disconnected and hundreds of thousands were found to be in arrears because of uncontrolled hydro prices, executive salaries at Hydro One hit astronomical new highs.

“Both the cut-offs and the new sky-high salaries at Hydro One are a direct result of this government’s actions. We now know why Hydro One salaries were removed from the Sunshine List.  The government doesn’t want the people of Ontario to know that their rates have helped create a new Millionaire’s Club at Hydro One. The only reason we have this information is because the Securities Act requires Hydro One to disclose these five – and only these five.

Total compensation for the top five executives at Hydro One for 2016:

Mayo Schmidt, President and CEO – $4.484,053

Michael Vels, CFO – $1,699,314

Gregory Kiraly, COO – $1,416,967

Ferio Pugliese, EVP, Customer Care and Corporate Affairs – $2,872,346

James Scarlett, EVP and Chief Legal Officer – $1,242,075

“At a time when Ontario ratepayers are hurting, this kind of compensation is not only undeserving, it’s a slap in the face.”

4 COMMENTS

  1. Hey nice work. You should investigate algoma school boards retirment funds and the closures of alot of small community schools. I bet you will make headlines with that.

  2. I am horrified with the liberal government and their antics of stealing from us. The seems blunders should never have been allowed to be hidden. It’s not right.
    Olg. Lcbo. Hydro….. …..???? There must have been a whole lotta favors and hands out.
    Welcome to ontario. Land of taxed and taxed…

  3. it should goes back to the people with big killing puc bills, they need it more, family to feed, and bills to keep up with

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