Things are worse at Hydro One

After blowing nearly $200 million in payouts and golden handshakes in his meddling at Hydro One, Doug Ford has now set the annual compensation for the new Hydro One CEO at a whopping $1.5 million.

The CEO of Hydro-Quebec is paid about $800,000 in base salary and bonuses.

The CEO of Hydro One before the Liberals privatized it was paid about $750,000.

“For Doug Ford to hand out millions to the next CEO of Hydro One as Ontarians continue to pay sky-high hydro bills is insulting,” said NDP Energy and Climate Change critic Peter Tabuns. “And the millions of dollars Doug Ford wants to shell out is on top of the $200 million price tag for Ford’s ongoing meddling at Hydro One. Doug Ford is blowing a lot of cash — but not on the people of Ontario that need more support and better services.”

 

Ford negotiated a $9-million golden handshake for outgoing CEO Mayo Schmidt — a deal made behind closed doors that Ford tried to hide. And Ontarians are paying $191-million in termination fees, financing charges and interest after Doug Ford’s well-publicized meddling in executive compensation at Hydro One scuttled its planned takeover of Avista.

 

“The Liberals got us into this mess by privatizing Hydro One, but the Conservatives are making things even worse,” said Tabuns.

 

SOURCE – NDP Energy and Climate Change critic Peter Tabuns

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