Tomorrow, millionaire Hydro One CEO will have earned more in 2018 than the average family will earn all year

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The millionaire CEO of Hydro One will have already earned as much as the average Ontario family by Friday – before he even goes for lunch.

After coming under fire for outrageous executive compensation last year, Kathleen Wynne committed to fixing the problem, a promise she has since broken.

“Hydro disconnections are reaching new record highs every year in Ontario,” said PC Energy Critic Todd Smith. “At the same time, Ontario electricity customers are still funding millionaire Hydro One executives because Kathleen Wynne has decided to put Liberal insiders ahead of the people.”

By lunch time on Friday, Hydro One CEO Mayo Schmidt will have earned $75,000, equal to Ontario’s median family income, according to Statistics Canada. He earned $4.5 million in 2017.

“This is the result of Kathleen Wynne’s disastrous handling of Hydro One,” said Smith. “ From repeatedly raising hydro prices, to a lack of transparency, to getting Ontario back in the coal business, everything at Hydro One under her watch has made life more unaffordable for Ontarians.”

“It used to be that if you worked hard, you could build a better life for you and your family in Ontario. But today, the interests of Kathleen Wynne’s millionaire insiders are put ahead of the people.”

Patrick Brown and the Ontario PCs have committed to reduce electricity prices and bring transparency back to the energy sector. Some of these commitments include:

  • Rebating the government’s portion of Hydro One’s dividend directly to ratepayers on their hydro bills
  • Acting to rein in exorbitant executive salaries at Hydro One and OPG
  • Moving conservation funding to the tax base
  • Walking away from any committed capacity contracts that have cancellation benefits
  • Putting an immediate moratorium on any new energy contracts in order to avoid already scheduled rate increases
  • Enforcing every Green Energy Act contract to the letter, using any contract breaches as leverage to renegotiate or exit them whenever feasible and possible
  • Repealing the Green Energy Act
  • Removing the Smart Meter Charge from your bill immediately.

 

7 COMMENTS

  1. Although I have little regard for Ms. Wynn, please don’t forget that Dalton McGuinty was the one responsible for the gas plant fiasco [along with Chris Bentley] leading to their resignations and barely a slap on the wrist. She inherited that mess coming into office and somehow ended up with the blame, while McGuinty managed to duck and lay low. However, this is what happens when less than competent people are voted into office.

    Yep – it’s a PC ad 🙁 Also there seems to be some contradiction between 2 of of Patrick Brown’s talking bullets, below:
    *Enforcing every Green Energy Act contract to the letter, using any contract breaches as leverage to renegotiate or exit them whenever feasible and possible
    *Repealing the Green Energy Act

  2. Hydro disconnections are reaching new record highs every year in Ontario,” said PC Energy Critic Todd Smith.

    This artical is very misleading!! At the top the first sentence of this articlehas been pasted. There is no proof of Hydro Customers being disconnected.

    We all know how much the Hydro CEO makes, but please don’t spew on about disconnections to mislead the readers.
    I think we get quite enough BS from the Liberals, wish you would not sink so low to adopt their tactics, instead give us facts and the truth. We deserve it !!!!!!!

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