Monthly Archives: May 2015

Hydro One Sale Bad for Ontario Finances: Report

Hydro One, Wynne

The sale of Hydro One by the Wynne government will cost the Ontario treasury $338.8 million/yr. according to a new report.

A new report is warning that the partial sale of Hydro One will place Ontario’s future fiscal health in jeopardy.

The report is authored by economists David Peters and Douglas Peters and was prepared for the Canadian Union of Public Employees (CUPE). It claims that selling 60 per cent of Hydro One as the government has proposed, would come at a cost of $338.8 million every year to the Ontario treasury.

“The electricity transmission and distribution business has been publicly owned and operated successfully in Ontario for nearly a century. It was not appropriate to sell the electricity business to outside investors in the past, and we do not believe it is appropriate for the Province of Ontario to sell it now,” co-author Douglas Peters said. Continue reading