Horwath calls for amendment to show Hydro One exec payout

Leader of the Official Opposition Andrea Horwath said Tuesday that any claim that the Ford government makes about transparency at Hydro One under Bill 2 is meaningless unless it includes full disclosure of all payments to outgoing Hydro One executives and board members, and called for an amendment to Bill 2 to accomplish that.

“Mr. Ford must immediately tell the people of Ontario how much his multi-million-dollar backroom deal with the Hydro One CEO really costs,” said Horwath. “Payments to Mayo Schmidt and the entire departing board were part of a deal cooked up by Mr. Ford, and if he passes a bill claiming to make Hydro One transparent while excluding his own backroom deal to pay out millions, that’s just a joke.”

Horwath demanded Ford amend Bill 2 before it is passed to ensure that any payment made to executives or board members leaving Hydro One are made public. The backroom deal amounts to more than $9 million for outgoing CEO Mayo Schmidt alone.

“Families and businesses in Ontario are still saddled with skyrocketing hydro bills – getting rid of the CEO and board won’t bring their bills down – it’ll just tack on millions more in payments to outgoing executives and board members. The people of Ontario deserve the truth.”